Concentrum Wealth Management Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Concentrum Wealth Management bought a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,003 shares of the CRM provider’s stock, valued at approximately $1,004,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. bought a new stake in Salesforce in the 4th quarter valued at $1,173,564,000. Jennison Associates LLC lifted its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. Finally, Franklin Resources Inc. boosted its position in Salesforce by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock worth $1,871,721,000 after purchasing an additional 1,204,355 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $240.26 on Monday. The stock’s 50-day moving average is $302.46 and its 200-day moving average is $311.80. The stock has a market cap of $230.89 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is 26.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRM shares. Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Loop Capital reduced their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, Jefferies Financial Group decreased their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Oscar Munoz acquired 3,882 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the purchase, the director now owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. Company insiders own 3.20% of the company’s stock.

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.