Salesforce, Inc. (NYSE:CRM) Stock Position Increased by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its position in Salesforce, Inc. (NYSE:CRM) by 1,904.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,300 shares of the CRM provider’s stock after buying an additional 142,800 shares during the period. Two Sigma Advisers LP’s holdings in Salesforce were worth $50,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nvest Financial LLC raised its stake in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC raised its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CRM shares. Morgan Stanley dropped their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald began coverage on Salesforce in a report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 target price on the stock. Jefferies Financial Group decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.62.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,306 shares of company stock worth $12,841,368. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $287.03 on Tuesday. The business’s 50-day moving average price is $268.15 and its two-hundred day moving average price is $307.16. 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 one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $275.95 billion, a P/E ratio of 47.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

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 $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

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.