Motley Fool Asset Management LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Motley Fool Asset Management LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 10.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 86,889 shares of the CRM provider’s stock after buying an additional 8,449 shares during the period. Salesforce makes up 1.5% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Motley Fool Asset Management LLC’s holdings in Salesforce were worth $29,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foundations Investment Advisors LLC boosted its position in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce during the 3rd quarter valued at approximately $1,215,000. Athena Investment Management purchased a new stake in shares of Salesforce in the 4th quarter valued at $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at $4,321,000. Finally, Geode Capital Management LLC increased its stake in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares in the company, valued at approximately $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. 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. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, DA Davidson cut their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Price Performance

NYSE:CRM opened at $272.06 on Thursday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market cap of $261.45 billion, a PE ratio of 44.75, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $305.91 and a 200 day moving average price of $311.50.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

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.