Yoffe Investment Management LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Yoffe Investment Management LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 937 shares of the CRM provider's stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Foundations Investment Advisors LLC grew its position in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management acquired a new stake in shares of Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at about $4,321,000. Jag Capital Management LLC grew 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 valued at $7,926,000 after acquiring an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Salesforce during the 4th quarter valued at about $2,861,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Wells Fargo & Company decreased their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Stifel Nicolaus decreased 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 Thursday, February 27th. Finally, Bank of America decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $349.87.

Salesforce Trading Up 1.4%

Shares of CRM stock traded up $3.80 during trading on Tuesday, hitting $276.93. 10,944,663 shares of the stock traded hands, compared to its average volume of 6,935,640. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm's fifty day moving average price is $268.33 and its 200-day moving average price is $306.20. The firm has a market capitalization of $266.24 billion, a P/E ratio of 45.55, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 705 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,553 shares of company stock worth $12,897,323. Insiders own 3.20% of the company's stock.

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.