Salesforce, Inc. (NYSE:CRM) Shares Bought by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 42.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,782 shares of the CRM provider’s stock after purchasing an additional 527 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Salesforce were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CRM. Foundations Investment Advisors LLC boosted its holdings in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management acquired a new position in Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC acquired a new position in Salesforce during the 4th quarter valued at about $4,321,000. Nordea Investment Management AB grew its position in Salesforce by 11.9% in the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after purchasing an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its stake in shares of Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after purchasing an additional 1,936 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRM shares. Macquarie reiterated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Scotiabank lowered their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. DA Davidson reduced their price objective on shares of Salesforce from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $360.32.

Salesforce Stock Performance

CRM opened at $249.50 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $239.77 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock has a 50-day moving average of $284.38 and a 200-day moving average of $309.74. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.67%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Oscar Munoz purchased 3,882 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the acquisition, the director now directly owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 39,439 shares of company stock worth $12,043,153 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.