Jump Financial LLC Invests $361,000 in Salesforce, Inc. (NYSE:CRM)

Jump Financial LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,081 shares of the CRM provider's stock, valued at approximately $361,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter valued at $25,000. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce during the fourth quarter worth about $32,000. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CRM shares. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Bank of America reduced their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $351.37.

Salesforce Price Performance

Salesforce stock traded up $1.81 during midday trading on Tuesday, reaching $267.45. 774,283 shares of the stock traded hands, compared to its average volume of 6,793,445. The stock's fifty day moving average is $272.58 and its 200-day moving average is $308.39. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $257.13 billion, a P/E ratio of 43.92, a PEG 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. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $15,705,195. This represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Millham sold 979 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were 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. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is currently owned by insiders.

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.