Salesforce, Inc. (NYSE:CRM) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,193 shares of the CRM provider’s stock after purchasing an additional 12,086 shares during the period. Cetera Investment Advisers’ holdings in Salesforce were worth $105,379,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Brevan Howard Capital Management LP acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $16,303,000. Captrust Financial Advisors grew its holdings in shares of Salesforce by 369.8% during the 4th quarter. Captrust Financial Advisors now owns 244,595 shares of the CRM provider’s stock valued at $81,776,000 after acquiring an additional 192,526 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Salesforce during the fourth quarter worth $14,704,000. Castlekeep Investment Advisors LLC acquired a new position in Salesforce in the 4th quarter worth about $7,936,000. Finally, Chapman Financial Group LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $1,603,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock worth $12,907,361 over the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.0 %

NYSE CRM opened at $272.40 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $268.64 and a 200-day moving average price of $307.67. The company has a market cap of $261.88 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is a boost 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%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRM. Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target on the stock. Scotiabank lowered their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $350.56.

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.