Triglav Skladi D.O.O. Purchases Shares of 104,119 Salesforce, Inc. (NYSE:CRM)

Triglav Skladi D.O.O. acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 104,119 shares of the CRM provider’s stock, valued at approximately $34,812,000. Salesforce accounts for 2.7% of Triglav Skladi D.O.O.’s portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Two Sigma Advisers LP increased its stake in shares of Salesforce by 1,904.0% in the fourth quarter. Two Sigma Advisers LP now owns 150,300 shares of the CRM provider’s stock worth $50,250,000 after acquiring an additional 142,800 shares during the period. Two Sigma Investments LP grew its position in Salesforce by 1,004.9% during the fourth quarter. Two Sigma Investments LP now owns 120,615 shares of the CRM provider’s stock valued at $40,325,000 after buying an additional 109,699 shares during the period. Tairen Capital Ltd increased its holdings in Salesforce by 1,023.7% in the fourth quarter. Tairen Capital Ltd now owns 213,500 shares of the CRM provider’s stock valued at $71,379,000 after buying an additional 194,500 shares in the last quarter. Texas Bank & Trust Co purchased a new position in Salesforce in the fourth quarter valued at $1,212,000. Finally, Teza Capital Management LLC purchased a new position in Salesforce in the fourth quarter valued at $2,005,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,527 shares of company stock valued at $14,882,976. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company cut their price objective on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Loop Capital cut their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Cantor Fitzgerald initiated coverage on shares of Salesforce in a report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $352.62.

Salesforce Price Performance

Salesforce stock opened at $291.00 on Monday. The company’s 50 day simple moving average is $268.10 and its 200-day simple moving average is $307.21. The company has a market capitalization of $279.76 billion, a price-to-earnings ratio of 47.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is 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.