APG Asset Management N.V. Purchases 776,305 Shares of Salesforce, Inc. (NYSE:CRM)

APG Asset Management N.V. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 568.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 912,855 shares of the CRM provider’s stock after purchasing an additional 776,305 shares during the period. Salesforce accounts for approximately 0.8% of APG Asset Management N.V.’s portfolio, making the stock its 26th largest position. APG Asset Management N.V. owned 0.10% of Salesforce worth $294,732,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter worth $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter worth about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRM shares. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. DA Davidson lowered their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group cut their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Guggenheim reiterated a “sell” rating and set a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Price Performance

NYSE:CRM opened at $244.16 on Tuesday. The business’s 50-day moving average is $300.39 and its 200 day moving average is $311.65. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $234.63 billion, a P/E ratio of 40.16, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.69%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is 26.10%.

Insider Activity

In other Salesforce news, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by insiders.

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.