Polymer Capital Management HK LTD Makes New $1.69 Million Investment in Salesforce, Inc. (NYSE:CRM)

Polymer Capital Management HK LTD bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 5,050 shares of the CRM provider’s stock, valued at approximately $1,688,000.

Other large investors have also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% in 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 bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Collier Financial purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Salesforce in the fourth quarter worth approximately $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Canaccord Genuity Group lowered their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. DA Davidson dropped their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Stock Performance

Shares of CRM stock opened at $240.26 on Friday. The company has a market capitalization of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business’s 50 day moving average is $302.46 and its two-hundred day moving average is $311.39. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 in the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce 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.