Absoluto Partners Gestao de Recursos Ltda Purchases 1,455 Shares of Salesforce, Inc. (NYSE:CRM)

Absoluto Partners Gestao de Recursos Ltda increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 101.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,886 shares of the CRM provider's stock after acquiring an additional 1,455 shares during the quarter. Salesforce comprises approximately 0.9% of Absoluto Partners Gestao de Recursos Ltda's portfolio, making the stock its 23rd largest holding. Absoluto Partners Gestao de Recursos Ltda's holdings in Salesforce were worth $965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nvest Financial LLC increased its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD raised its holdings 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 lifted its position in shares of Salesforce by 4.1% during 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 during the period. Sachetta LLC grew its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

CRM stock traded down $2.68 during mid-day trading on Monday, reaching $272.40. 4,168,008 shares of the stock traded hands, compared to its average volume of 6,820,848. The firm has a market capitalization of $261.88 billion, a PE ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current 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 business has a 50-day moving average of $269.34 and a two-hundred day moving average of $307.82.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares of the company's stock, valued at approximately $3,220,525. The trade was a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $12,907,361 over the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Bank of America decreased 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. Citigroup reiterated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. DA Davidson restated an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Finally, Morgan Stanley reduced their price target on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $350.56.

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.