Coastline Trust Co Has $2.12 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Coastline Trust Co lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,335 shares of the CRM provider’s stock after selling 71 shares during the period. Coastline Trust Co’s holdings in Salesforce were worth $2,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at $3,599,867,000. Raymond James Financial Inc. bought a new position in Salesforce during the fourth quarter valued at about $1,173,564,000. Invesco Ltd. lifted its position in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after buying an additional 2,325,156 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRM shares. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Stephens initiated coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Bank of America decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Redburn Atlantic started coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Macquarie restated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $360.32.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 652 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock worth $14,124,094 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $246.93 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $237.30 billion, a price-to-earnings ratio of 40.61, a P/E/G ratio of 2.58 and a beta of 1.38. The stock’s 50 day moving average price is $281.23 and its two-hundred day moving average price is $309.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.68%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

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.