Whalerock Point Partners LLC Buys 345 Shares of Salesforce, Inc. (NYSE:CRM)

Whalerock Point Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,982 shares of the CRM provider’s stock after purchasing an additional 345 shares during the period. Salesforce comprises approximately 1.3% of Whalerock Point Partners LLC’s holdings, making the stock its 18th largest position. Whalerock Point Partners LLC’s holdings in Salesforce were worth $5,678,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Invst LLC increased its holdings in Salesforce by 4.2% during the third quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after buying an additional 685 shares during the period. Passumpsic Savings Bank boosted its holdings in shares of Salesforce by 1.2% in the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after buying an additional 87 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Salesforce by 15.7% during the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after acquiring an additional 581 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in Salesforce by 14.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after purchasing an additional 866 shares during the last quarter. Finally, World Investment Advisors LLC lifted its holdings in shares of Salesforce by 570.4% during the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock valued at $14,903,000 after purchasing an additional 46,324 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.2 %

Shares of NYSE CRM opened at $267.87 on Friday. The stock has a fifty day simple moving average of $273.75 and a 200-day simple moving average of $308.41. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market capitalization of $257.42 billion, a PE ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38. 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 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 issued a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. Loop Capital cut their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective on the stock. Wells Fargo & Company decreased their target price on Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $351.37.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Millham sold 3,937 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 in the last ninety days. Company insiders own 3.20% of the company’s stock.

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.