Transamerica Financial Advisors Inc. Decreases Stake in Salesforce, Inc. (NYSE:CRM)

Transamerica Financial Advisors Inc. cut its position in Salesforce, Inc. (NYSE:CRM) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,058 shares of the CRM provider’s stock after selling 356 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Salesforce were worth $4,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the fourth quarter valued at $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group upped their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, Scotiabank decreased their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

NYSE: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 firm has a 50 day simple moving average of $309.39 and a 200-day simple moving average of $310.68. The firm has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. 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 paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is currently 25.16%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last quarter. 3.20% of the stock is currently owned by insiders.

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.