Ameriprise Financial Inc. Has $1.57 Billion Position in Salesforce, Inc. (NYSE:CRM)

Ameriprise Financial Inc. decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,689,343 shares of the CRM provider’s stock after selling 552,766 shares during the period. Ameriprise Financial Inc. owned 0.49% of Salesforce worth $1,567,904,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Nordea Investment Management AB boosted its holdings in Salesforce by 11.9% in the fourth 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 in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Salesforce by 14.1% in the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock worth $5,252,000 after purchasing an additional 1,936 shares in the last quarter. Neville Rodie & Shaw Inc. grew its position in Salesforce by 4.2% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 53,311 shares of the CRM provider’s stock valued at $17,823,000 after purchasing an additional 2,160 shares during the period. Capital Market Strategies LLC bought a new stake in Salesforce during the 4th quarter valued at $230,000. Finally, Canandaigua National Bank & Trust Co. raised its holdings in Salesforce by 3.1% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 11,332 shares of the CRM provider’s stock worth $3,789,000 after buying an additional 344 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 2.2 %

Shares of CRM stock opened at $275.21 on Friday. The company has a market capitalization of $264.58 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business’s fifty day moving average is $269.34 and its 200 day moving average is $307.70. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Robert W. Baird dropped their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. DA Davidson reiterated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a report on Monday, April 21st. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.56.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is 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.