Salesforce, Inc. (NYSE:CRM) Position Raised by Noked Israel Ltd

Noked Israel Ltd grew its holdings in Salesforce, Inc. (NYSE:CRM) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 45,000 shares of the CRM provider’s stock after buying an additional 5,000 shares during the quarter. Salesforce makes up approximately 3.0% of Noked Israel Ltd’s investment portfolio, making the stock its 10th largest holding. Noked Israel Ltd’s holdings in Salesforce were worth $15,045,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Oppenheimer decreased their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Finally, Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $350.56.

Insider Buying and Selling at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a filing 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 on Tuesday, February 18th. The stock was 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 in the company, valued at $15,342,415. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,830 shares of company stock valued at $12,907,361. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $289.18 on Wednesday. The business has a fifty day simple moving average of $267.33 and a two-hundred day simple moving average of $307.23. The firm has a market capitalization of $278.01 billion, a P/E ratio of 47.56, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.58%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is presently 26.10%.

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.