Full Sail Capital LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Full Sail Capital LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 798 shares of the CRM provider’s stock after purchasing an additional 67 shares during the period. Full Sail Capital LLC’s holdings in Salesforce were worth $267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp grew its stake in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. Norges Bank bought a new stake in Salesforce in the fourth quarter valued at about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Salesforce by 23.2% during the 4th 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 buying an additional 1,683,233 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

NYSE CRM opened at $275.38 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a 50 day simple moving average of $267.33 and a 200-day simple moving average of $307.06. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio is presently 26.10%.

Analysts Set New Price Targets

A number of equities analysts have commented on CRM shares. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Piper Sandler reduced their price target on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This trade represents a 14.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $12,907,361 in the last quarter. Company insiders own 3.20% of the company’s stock.

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.