883 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Rossby Financial LCC

Rossby Financial LCC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 883 shares of the CRM provider’s stock, valued at approximately $295,000.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp lifted its stake in shares of Salesforce by 5.5% in the third quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider’s stock worth $52,912,000 after buying an additional 10,084 shares in the last quarter. Invst LLC lifted its position in Salesforce by 4.2% in the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after acquiring an additional 685 shares in the last quarter. Passumpsic Savings Bank boosted its stake in Salesforce by 1.2% during the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after purchasing an additional 87 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of Salesforce by 15.7% in the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after purchasing an additional 581 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of Salesforce by 14.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after purchasing an additional 866 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRM shares. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Jefferies Financial Group 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 report on Monday, March 31st. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $360.76.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Oscar Munoz bought 3,882 shares of Salesforce stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the purchase, the director now owns 11,843 shares of the company’s stock, 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 a total of 45,660 shares of company stock worth $14,095,336 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.4 %

CRM stock opened at $254.04 on Tuesday. The firm has a fifty day moving average price of $287.42 and a 200 day moving average price of $310.55. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market cap of $244.13 billion, a PE ratio of 41.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

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.