196,548 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 196,548 shares of the CRM provider’s stock, valued at approximately $65,988,000. Salesforce accounts for 1.0% of Raiffeisen Bank International AG’s holdings, making the stock its 24th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Foundations Investment Advisors LLC grew its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management acquired a new position in Salesforce in the fourth quarter valued at approximately $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $4,321,000. Jag Capital Management LLC raised its position in shares of Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock worth $7,926,000 after purchasing an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $2,861,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares of the company’s stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,830 shares of company stock valued at $12,907,361. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $289.77 on Thursday. The stock has a fifty day moving average price of $267.47 and a two-hundred day moving average price of $307.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $278.58 billion, a P/E ratio of 47.66, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.58%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRM shares. Morgan Stanley dropped their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Piper Sandler reduced their price objective on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Loop Capital decreased 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, DA Davidson reaffirmed an “underperform” rating and set a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $350.56.

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.