MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 470,684 shares of the CRM provider’s stock after purchasing an additional 7,328 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Salesforce were worth $157,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Regent Peak Wealth Advisors LLC grew its position in shares of Salesforce by 3.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock valued at $818,000 after purchasing an additional 84 shares in the last quarter. Czech National Bank raised its holdings in shares of Salesforce by 5.0% during the 4th quarter. Czech National Bank now owns 207,280 shares of the CRM provider’s stock worth $69,300,000 after acquiring an additional 9,885 shares during the period. Aprio Wealth Management LLC boosted its position in shares of Salesforce by 35.7% during the 4th quarter. Aprio Wealth Management LLC now owns 3,945 shares of the CRM provider’s stock valued at $1,319,000 after acquiring an additional 1,038 shares during the last quarter. Crescent Sterling Ltd. grew its holdings in shares of Salesforce by 86.8% in the fourth quarter. Crescent Sterling Ltd. now owns 1,719 shares of the CRM provider’s stock valued at $575,000 after purchasing an additional 799 shares during the period. Finally, Winthrop Advisory Group LLC increased its position in Salesforce by 2.7% during the fourth quarter. Winthrop Advisory Group LLC now owns 1,950 shares of the CRM provider’s stock worth $652,000 after purchasing an additional 51 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent analyst reports. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Stephens initiated coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.56.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock valued at $12,907,361 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $275.38 on Monday. The stock has a market cap of $264.75 billion, a P/E ratio of 45.29, a P/E/G ratio of 2.58 and a beta of 1.42. The firm’s 50-day simple moving average is $267.33 and its 200 day simple moving average is $307.36. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid 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 a positive change from Salesforce’s previous quarterly dividend of $0.40. 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.