Vident Advisory LLC Acquires 5,535 Shares of Salesforce, Inc. (NYSE:CRM)

Vident Advisory LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,427 shares of the CRM provider’s stock after buying an additional 5,535 shares during the quarter. Salesforce comprises 0.7% of Vident Advisory LLC’s portfolio, making the stock its 25th biggest holding. Vident Advisory LLC’s holdings in Salesforce were worth $40,931,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc acquired a new position in Salesforce during the 4th quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of CRM opened at $291.00 on Monday. The firm has a market capitalization of $279.76 billion, a PE ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. The company’s 50-day moving average is $268.10 and its 200-day moving average is $307.21. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 6,697 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,527 shares of company stock worth $14,882,976 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. Macquarie restated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 price target on shares of Salesforce in a research note on Wednesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Finally, Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. One research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $352.62.

About Salesforce

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.