Cache Advisors LLC Takes $3.18 Million Position in Salesforce, Inc. (NYSE:CRM)

Cache Advisors LLC acquired a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,504 shares of the CRM provider's stock, valued at approximately $3,177,000. Salesforce comprises 1.2% of Cache Advisors LLC's portfolio, making the stock its 19th largest position.

A number of other hedge funds also recently added to or reduced their stakes in CRM. Nvest Financial LLC boosted its stake in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its stake in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC boosted its stake 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 in the last quarter. Finally, Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 705 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the sale, the insider now directly owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,553 shares of company stock valued at $12,897,323 over the last 90 days. Corporate insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of CRM stock traded up $3.80 on Tuesday, reaching $276.93. 10,643,584 shares of the company were exchanged, compared to its average volume of 6,934,532. The company has a market cap of $266.24 billion, a price-to-earnings ratio of 45.55, a P/E/G ratio of 2.58 and a beta of 1.42. The business has a 50-day moving average price of $268.33 and a 200 day moving average price of $306.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

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 paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. DA Davidson restated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Finally, Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $349.87.

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.