Burling Wealth Partners LLC Acquires New Holdings in Salesforce, Inc. (NYSE:CRM)

Burling Wealth Partners LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 18,492 shares of the CRM provider’s stock, valued at approximately $6,183,000. Salesforce makes up 1.3% of Burling Wealth Partners LLC’s holdings, making the stock its 19th largest position.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% during the 4th 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 in the last quarter. Norges Bank acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $3,599,867,000. Price T Rowe Associates Inc. MD lifted its position in shares of Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,961 shares of company stock valued at $13,229,264 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CRM shares. Jefferies Financial Group cut their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Stephens began coverage on Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective on the stock. Finally, Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one 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 a consensus target price of $355.19.

Salesforce Price Performance

CRM opened at $250.57 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock’s 50 day moving average price is $276.19 and its 200-day moving average price is $308.58. The stock has a market capitalization of $240.79 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.67%. Salesforce’s payout ratio 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.