Itau Unibanco Holding S.A. Takes $1.83 Million Position in Salesforce, Inc. (NYSE:CRM)

Itau Unibanco Holding S.A. bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,448 shares of the CRM provider’s stock, valued at approximately $1,828,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Wealth Management grew its holdings in shares of Salesforce by 4.9% during the fourth quarter. Peterson Wealth Management now owns 7,725 shares of the CRM provider’s stock valued at $2,583,000 after buying an additional 362 shares during the last quarter. Sulzberger Capital Advisors Inc. purchased a new position in Salesforce in the fourth quarter worth $426,000. Rehmann Capital Advisory Group boosted its holdings in shares of Salesforce by 1.1% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,845 shares of the CRM provider’s stock worth $1,954,000 after buying an additional 62 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after purchasing an additional 184 shares during the last quarter. Finally, Triumph Capital Management bought a new stake in shares of Salesforce in the fourth quarter valued at $657,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $268.46 on Thursday. The stock’s 50-day moving average is $270.74 and its two-hundred day moving average is $307.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $258.09 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling

In related news, CEO Brian Millham sold 979 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $248,333.14. Following the transaction, the chief executive officer now owns 6,487 shares in the company, valued at $1,645,492.42. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock worth $15,027,714 over the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRM. Citigroup restated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group lowered their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Piper Sandler decreased their price objective on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $350.56.

Salesforce Company 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.