Salesforce, Inc. (NYSE:CRM) Shares Sold by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,058 shares of the CRM provider’s stock after selling 356 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Salesforce were worth $4,366,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRM. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter valued at $3,599,867,000. Raymond James Financial Inc. purchased a new position in Salesforce in the fourth quarter valued at about $1,173,564,000. Jennison Associates LLC lifted its stake in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB boosted its position in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after buying an additional 931,566 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CRM. Stephens initiated coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Bank of America decreased their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This represents a 5.76 % decrease in their position. 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 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $270.04 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market capitalization of $259.51 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business has a 50 day moving average price of $309.39 and a two-hundred day moving average price of $310.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce’s payout ratio is 25.16%.

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.