Rathbones Group PLC Has $145.11 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Rathbones Group PLC increased its position in Salesforce, Inc. (NYSE:CRM) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,028 shares of the CRM provider’s stock after purchasing an additional 8,470 shares during the period. Rathbones Group PLC’s holdings in Salesforce were worth $145,109,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Foundations Investment Advisors LLC lifted its position in Salesforce by 15.0% in the 4th 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 in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the 3rd quarter worth $1,215,000. Athena Investment Management bought a new position in shares of Salesforce during the fourth quarter valued at about $236,000. Highland Capital Management LLC bought a new stake in Salesforce in the 4th quarter worth about $4,321,000. Finally, Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, Director Oscar Munoz acquired 3,882 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the acquisition, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce 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 completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 5.9 %

CRM stock opened at $240.26 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market capitalization of $230.89 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business’s 50 day moving average price is $302.46 and its two-hundred day moving average price is $311.80.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analyst Ratings Changes

A number of research analysts have issued reports on CRM shares. TD Cowen upgraded 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 note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

About Salesforce

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.