Salesforce, Inc. (NYSE:CRM) Shares Acquired by Norinchukin Bank The

Norinchukin Bank The boosted its position in Salesforce, Inc. (NYSE:CRM) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,664 shares of the CRM provider’s stock after purchasing an additional 2,754 shares during the period. Norinchukin Bank The’s holdings in Salesforce were worth $17,941,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new position in Salesforce during the fourth quarter worth about $25,000. Arlington Trust Co LLC grew its stake in shares of 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 during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter worth approximately $32,000. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,256 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at $3,248,954.06. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,654 shares of company stock worth $14,124,094. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Guggenheim reaffirmed a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $360.32.

Salesforce Trading Down 1.2 %

Salesforce stock opened at $246.93 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s fifty day moving average price is $281.23 and its two-hundred day moving average price is $309.39. The company has a market capitalization of $237.30 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) 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.