Maytus Capital Management LLC Makes New $9.70 Million Investment in Salesforce, Inc. (NYSE:CRM)

Maytus Capital Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 29,000 shares of the CRM provider’s stock, valued at approximately $9,696,000. Salesforce comprises 3.4% of Maytus Capital Management LLC’s portfolio, making the stock its 8th largest position.

A number of other institutional investors also recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during 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 during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens initiated coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.56.

Salesforce Stock Performance

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 market capitalization of $277.48 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.42. The stock has a fifty day moving average of $267.27 and a two-hundred day moving average of $307.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. 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. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is 26.10%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $12,907,361 over the last ninety days. 3.20% of the stock is currently owned by corporate 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.