Uniting Wealth Partners LLC Invests $631,000 in Salesforce, Inc. (NYSE:CRM)

Uniting Wealth Partners LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,887 shares of the CRM provider’s stock, valued at approximately $631,000.

Other large investors have also made changes to their positions in the company. Pitcairn Co. grew its position in Salesforce by 1.7% in the fourth quarter. Pitcairn Co. now owns 11,905 shares of the CRM provider’s stock worth $3,980,000 after acquiring an additional 197 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in Salesforce in the fourth quarter worth $15,365,000. Grant Private Wealth Management Inc acquired a new position in Salesforce during the fourth quarter worth $1,211,000. Arete Wealth Advisors LLC raised its stake in shares of Salesforce by 25.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 5,297 shares of the CRM provider’s stock valued at $1,730,000 after acquiring an additional 1,063 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in Salesforce by 10.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 86,889 shares of the CRM provider’s stock worth $29,050,000 after purchasing an additional 8,449 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRM shares. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective on the stock. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Scotiabank decreased their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Trading Up 0.7 %

CRM stock opened at $272.06 on Thursday. The stock has a market cap of $261.45 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day moving average price of $305.91 and a two-hundred day moving average price of $311.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Salesforce Company 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.