Clearbridge Investments LLC Buys 10,084 Shares of Salesforce, Inc. (NYSE:CRM)

Clearbridge Investments LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,490,948 shares of the CRM provider’s stock after buying an additional 10,084 shares during the period. Salesforce accounts for approximately 0.9% of Clearbridge Investments LLC’s investment portfolio, making the stock its 13th biggest holding. Clearbridge Investments LLC owned about 0.36% of Salesforce worth $1,167,129,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. United Bank increased its stake in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after buying an additional 76 shares during the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Salesforce by 89.4% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,710 shares of the CRM provider’s stock worth $468,000 after acquiring an additional 807 shares during the period. Captrust Financial Advisors lifted its stake in Salesforce by 1.1% in the 3rd quarter. Captrust Financial Advisors now owns 52,069 shares of the CRM provider’s stock worth $14,252,000 after purchasing an additional 582 shares in the last quarter. White Knight Strategic Wealth Advisors LLC boosted its holdings in Salesforce by 3.0% in the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 1,382 shares of the CRM provider’s stock valued at $378,000 after purchasing an additional 40 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in shares of Salesforce during the 3rd quarter valued at $82,113,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, DA Davidson decreased their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Shares of CRM stock opened at $270.04 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 company’s 50-day simple moving average is $309.39 and its two-hundred day simple moving average is $311.13. The company has a market capitalization of $259.51 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The company also recently announced 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. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio is presently 26.10%.

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.