Allianz SE Acquires Shares of 56,510 Salesforce, Inc. (NYSE:CRM)

Allianz SE bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 56,510 shares of the CRM provider’s stock, valued at approximately $18,972,000.

A number of other large investors have also made changes to their positions in the stock. Intrust Bank NA grew its stake in shares of Salesforce by 1.2% in the 4th quarter. Intrust Bank NA now owns 7,174 shares of the CRM provider’s stock valued at $2,398,000 after buying an additional 85 shares during the period. OneAscent Wealth Management LLC grew its position in Salesforce by 7.7% in the fourth quarter. OneAscent Wealth Management LLC now owns 1,220 shares of the CRM provider’s stock worth $408,000 after acquiring an additional 87 shares during the period. Allstate Corp increased its stake in Salesforce by 3,301.4% during the fourth quarter. Allstate Corp now owns 28,368 shares of the CRM provider’s stock worth $9,484,000 after acquiring an additional 27,534 shares during the last quarter. Maridea Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter valued at $270,000. Finally, RiverFront Investment Group LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $223,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

CRM opened at $270.04 on Friday. The company’s 50 day simple moving average is $309.39 and its 200 day simple moving average is $310.68. 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, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 25.16%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Macquarie reissued a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Barclays increased their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer dropped their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by company insiders.

Salesforce 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.