Edmond DE Rothschild Holding S.A. Purchases 11,700 Shares of Salesforce, Inc. (NYSE:CRM)

Edmond DE Rothschild Holding S.A. boosted its position in Salesforce, Inc. (NYSE:CRM) by 206.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,354 shares of the CRM provider’s stock after purchasing an additional 11,700 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Salesforce were worth $5,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. United Bank lifted its position in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Salesforce during the 3rd quarter valued at about $53,000. Kestra Investment Management LLC purchased a new stake in Salesforce in the 3rd quarter valued at about $766,000. Benjamin Edwards Inc. grew its stake in Salesforce by 3,967.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,414 shares of the CRM provider’s stock worth $12,157,000 after acquiring an additional 43,322 shares in the last quarter. Finally, Arrowroot Family Office LLC increased its position in shares of Salesforce by 3.4% during the third quarter. Arrowroot Family Office LLC now owns 4,694 shares of the CRM provider’s stock worth $1,285,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated 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 transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Bank of America dropped their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Price Performance

NYSE:CRM opened at $268.05 on Tuesday. The firm’s fifty day moving average is $308.26 and its two-hundred day moving average is $311.67. The firm has a market cap of $257.60 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors 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 yield of 0.63%. 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 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.