Rathbones Group PLC Purchases 8,470 Shares of Salesforce, Inc. (NYSE:CRM)

Rathbones Group PLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 434,028 shares of the CRM provider’s stock after purchasing an additional 8,470 shares during the period. Rathbones Group PLC’s holdings in Salesforce were worth $145,109,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Twin Capital Management Inc. boosted its holdings in shares of Salesforce by 1.8% in the fourth quarter. Twin Capital Management Inc. now owns 22,902 shares of the CRM provider’s stock worth $7,657,000 after buying an additional 402 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares during the last quarter. Concentrum Wealth Management bought a new stake in shares of Salesforce during the 4th quarter valued at $1,004,000. Trek Financial LLC grew its position in shares of Salesforce by 1,402.7% during the 4th quarter. Trek Financial LLC now owns 11,240 shares of the CRM provider’s stock valued at $3,758,000 after acquiring an additional 10,492 shares during the period. Finally, Polymer Capital Management HK LTD purchased a new stake in shares of Salesforce in the 4th quarter worth $1,688,000. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on 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. This represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 652 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock valued at $14,095,336 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 5.9 %

Shares of CRM opened at $240.26 on Monday. The firm has a market capitalization of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a fifty day moving average price of $302.46 and a 200-day moving average price of $311.80. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.70%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $361.42.

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.