Full Sail Capital LLC Has $267,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Full Sail Capital LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 798 shares of the CRM provider’s stock after acquiring an additional 67 shares during the period. Full Sail Capital LLC’s holdings in Salesforce were worth $267,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Salesforce during the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after buying an additional 3,841,521 shares during the period. Raymond James Financial Inc. acquired a new position in Salesforce in the 4th quarter valued at $1,173,564,000. Invesco Ltd. raised its holdings in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares during the period. Finally, Northern Trust Corp lifted its position in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $12,907,361 over the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research analyst reports. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Scotiabank cut their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Piper Sandler reduced their price objective on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Stock Performance

Salesforce stock opened at $275.38 on Friday. The stock has a 50-day simple moving average of $267.33 and a 200 day simple moving average of $307.06. The stock has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 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.