Castleark Management LLC Invests $13 Million in Salesforce, Inc. (NYSE:CRM)

Castleark Management LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 38,880 shares of the CRM provider's stock, valued at approximately $12,999,000.

A number of other institutional investors have also bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin L. Washington bought 1,695 shares of the business's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the transaction, the director now directly owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. This represents a 4.06% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.0%

NYSE CRM opened at $287.64 on Wednesday. The firm has a market cap of $276.53 billion, a PE ratio of 47.31, 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. The business's fifty day simple moving average is $268.48 and its 200-day simple moving average is $307.02. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is 26.10%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of Salesforce in a report on Friday, April 25th. Canaccord Genuity Group decreased their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Macquarie reiterated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $352.62.

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.

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