6,607 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Heritage Trust Co

Heritage Trust Co purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,607 shares of the CRM provider’s stock, valued at approximately $2,209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Salesforce during the 4th quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. purchased a new position in shares of Salesforce in the 4th quarter worth $1,173,564,000. Invesco Ltd. raised its position in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. Jennison Associates LLC raised its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, Director Oscar Munoz purchased 3,882 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Canaccord Genuity Group dropped their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $361.42.

Salesforce Trading Down 3.9 %

Shares of CRM opened at $254.87 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $244.93 billion, a P/E ratio of 41.92, a P/E/G ratio of 2.58 and a beta of 1.38. The firm has a 50-day moving average price of $291.07 and a 200 day moving average price of $310.59. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. Salesforce’s dividend payout ratio is currently 26.10%.

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.