Salesforce, Inc. (NYSE:CRM) Shares Sold by Global Endowment Management LP

Global Endowment Management LP lowered its position in Salesforce, Inc. (NYSE:CRM) by 32.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,691 shares of the CRM provider’s stock after selling 827 shares during the quarter. Global Endowment Management LP’s holdings in Salesforce were worth $565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zacks Investment Management increased its position in shares of Salesforce by 148.7% during the fourth quarter. Zacks Investment Management now owns 86,837 shares of the CRM provider’s stock worth $29,032,000 after acquiring an additional 51,919 shares during the last quarter. Garden State Investment Advisory Services LLC grew its stake in Salesforce by 1.6% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 3,326 shares of the CRM provider’s stock valued at $1,114,000 after purchasing an additional 52 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Salesforce by 3.3% during the 4th quarter. NewEdge Advisors LLC now owns 94,140 shares of the CRM provider’s stock worth $31,474,000 after purchasing an additional 3,007 shares during the last quarter. Everest Management Corp. acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $746,000. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Salesforce by 42.0% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,782 shares of the CRM provider’s stock valued at $596,000 after buying an additional 527 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the sale, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. The trade was a 5.76 % 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, Director Oscar Munoz acquired 3,882 shares of the firm’s 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 purchase, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 39,439 shares of company stock worth $12,043,153 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

NYSE:CRM opened at $249.50 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $284.38 and its 200 day moving average price is $309.74. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $239.77 billion, a P/E ratio of 41.04, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.67%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company 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 have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $360.32.

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.