Salesforce, Inc. (NYSE:CRM) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 174,951 shares of the CRM provider’s stock after purchasing an additional 11,053 shares during the period. Salesforce accounts for approximately 0.3% of Schonfeld Strategic Advisors LLC’s portfolio, making the stock its 26th biggest holding. Schonfeld Strategic Advisors LLC’s holdings in Salesforce were worth $58,491,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CRM. Norges Bank purchased a new stake in shares of Salesforce during the 4th quarter worth $3,599,867,000. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at $1,173,564,000. Invesco Ltd. lifted its stake in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.8 %

Salesforce stock opened at $265.61 on Tuesday. The stock has a 50-day moving average price of $272.58 and a 200 day moving average price of $308.39. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $255.35 billion, a PE ratio of 43.69, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Millham sold 979 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $248,333.14. Following the sale, the chief executive officer now owns 6,487 shares in the company, valued at $1,645,492.42. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRM. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler decreased their price objective on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. One equities research 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 given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $351.37.

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.