Obermeyer Wealth Partners Has $1.73 Million Position in Salesforce, Inc. (NYSE:CRM)

Obermeyer Wealth Partners lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,167 shares of the CRM provider’s stock after selling 398 shares during the quarter. Obermeyer Wealth Partners’ holdings in Salesforce were worth $1,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after acquiring an additional 175,035 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the last quarter. Northern Trust Corp raised its holdings in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the last quarter. Norges Bank bought a new stake in shares of Salesforce during the fourth quarter worth approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock valued at $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,830 shares of company stock worth $12,907,361. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Stephens initiated coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Piper Sandler dropped their price target on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Price Performance

NYSE CRM opened at $288.62 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a fifty day simple moving average of $267.27 and a 200 day simple moving average of $307.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $277.48 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42.

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 $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 dividend yield of 0.58%. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Salesforce Profile

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.