RiverFront Investment Group LLC Takes $223,000 Position in Salesforce, Inc. (NYSE:CRM)

RiverFront Investment Group LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 666 shares of the CRM provider’s stock, valued at approximately $223,000.

Several other institutional investors also recently added to or reduced their stakes in CRM. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter worth $31,000. Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter worth $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the transaction, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 652 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 2.8 %

Shares of NYSE CRM opened at $270.04 on Friday. 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. 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 firm has a fifty day moving average of $309.39 and a 200-day moving average of $311.13. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio is currently 26.10%.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Scotiabank reduced their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.