Trek Financial LLC Has $3.76 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Trek Financial LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 1,402.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,240 shares of the CRM provider’s stock after purchasing an additional 10,492 shares during the period. Trek Financial LLC’s holdings in Salesforce were worth $3,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after buying an additional 175,035 shares during the period. Fisher Asset Management LLC raised its position in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Norges Bank bought a new position in Salesforce during the fourth quarter worth about $3,599,867,000. Massachusetts Financial Services Co. MA grew its stake in shares of Salesforce by 10.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider’s stock valued at $2,204,336,000 after purchasing an additional 628,593 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after buying an additional 153,500 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Robert W. Baird reduced their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson decreased their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $361.42.

Insider Transactions at Salesforce

In related news, Director Oscar Munoz purchased 3,882 shares of Salesforce stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $240.26 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 firm has a market cap of $230.89 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock’s 50-day moving average is $302.46 and its 200-day moving average is $311.39.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 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.