Shell Asset Management Co. Grows Stock Position in Salesforce, Inc. (NYSE:CRM)

Shell Asset Management Co. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,758 shares of the CRM provider’s stock after acquiring an additional 510 shares during the quarter. Shell Asset Management Co.’s holdings in Salesforce were worth $9,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth about $31,000. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer decreased their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $352.62.

Salesforce Price Performance

Shares of CRM opened at $290.48 on Friday. The company has a market capitalization of $279.26 billion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month 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. The firm has a 50 day moving average of $267.83 and a 200 day moving average of $307.08.

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 issued a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,256 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the completion of the sale, the chief accounting officer now owns 12,826 shares in the company, valued at $3,248,954.06. This represents a 8.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,527 shares of company stock worth $14,882,976. 3.20% of the stock is owned by corporate insiders.

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.