Salesforce, Inc. (NYSE:CRM) Shares Purchased by United Bank

United Bank raised its stake in Salesforce, Inc. (NYSE:CRM) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,268 shares of the CRM provider’s stock after acquiring an additional 965 shares during the period. Salesforce accounts for approximately 1.2% of United Bank’s portfolio, making the stock its 27th largest position. United Bank’s holdings in Salesforce were worth $2,764,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc purchased a new position in shares of Salesforce during the fourth quarter worth about $31,000. Collier Financial acquired a new position in Salesforce in the 4th quarter valued at about $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRM shares. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One investment 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

Shares of CRM stock opened at $270.04 on Friday. 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 firm 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. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50 day moving average price of $309.39 and a 200 day moving average price of $311.13.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by company insiders.

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.