15,221 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,221 shares of the CRM provider’s stock, valued at approximately $5,089,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the transaction, the chief accounting officer now directly 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. Over the last 90 days, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Morgan Stanley lowered their target price on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Macquarie reissued a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Finally, Cantor Fitzgerald initiated coverage on Salesforce in a report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 target price on the stock. One 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Stock Performance

NYSE:CRM opened at $289.77 on Thursday. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a 50-day moving average price of $267.47 and a 200 day moving average price of $307.10. The stock has a market capitalization of $278.58 billion, a P/E ratio of 47.66, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. 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.