Alta Advisers Ltd Buys 470 Shares of Salesforce, Inc. (NYSE:CRM)

Alta Advisers Ltd grew its position in Salesforce, Inc. (NYSE:CRM) by 17.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,170 shares of the CRM provider’s stock after buying an additional 470 shares during the period. Salesforce makes up 0.7% of Alta Advisers Ltd’s portfolio, making the stock its 26th largest position. Alta Advisers Ltd’s holdings in Salesforce were worth $1,060,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CRM. Foundations Investment Advisors LLC boosted its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter valued at approximately $236,000. Highland Capital Management LLC bought a new stake in Salesforce in the 4th quarter valued at approximately $4,321,000. Nordea Investment Management AB boosted its position in Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after acquiring an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its stake in shares of Salesforce by 14.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock worth $5,252,000 after acquiring an additional 1,936 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRM shares. Canaccord Genuity Group reduced their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. 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 report on Thursday, February 27th. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One equities research 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 stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $358.97.

Salesforce Stock Performance

Shares of CRM stock opened at $236.05 on Tuesday. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50 day moving average of $279.43 and a 200-day moving average of $309.44. The company has a market cap of $226.84 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business 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 $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,654 shares of company stock valued at $14,124,094 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.