OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $11.33 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 577.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,896 shares of the CRM provider’s stock after purchasing an additional 28,896 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Salesforce were worth $11,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRM. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. bought a new position in Salesforce in the 4th quarter worth approximately $1,173,564,000. Invesco Ltd. raised its position in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. 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 shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock worth $12,907,361 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CRM. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Piper Sandler reduced their price objective on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Westpark Capital reiterated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.56.

Salesforce Stock Performance

Shares of Salesforce stock opened at $288.62 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 firm has a market capitalization of $277.48 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42. The company’s 50 day moving average price is $267.27 and its two-hundred day moving average price is $307.35.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 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.