36,379 Shares in Salesforce, Inc. (NYSE:CRM) Bought by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 36,379 shares of the CRM provider's stock, valued at approximately $12,163,000.

Other large investors also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new position in Salesforce in the 4th quarter valued at approximately $236,000. Red Door Wealth Management LLC grew its stake in Salesforce by 7.5% in the 4th quarter. Red Door Wealth Management LLC now owns 20,680 shares of the CRM provider's stock valued at $6,914,000 after buying an additional 1,451 shares in the last quarter. Secure Asset Management LLC grew its stake in Salesforce by 5.5% in the 4th quarter. Secure Asset Management LLC now owns 7,351 shares of the CRM provider's stock valued at $2,458,000 after buying an additional 380 shares in the last quarter. Apeiron RIA LLC purchased a new position in Salesforce in the 4th quarter valued at approximately $264,000. Finally, Montecito Bank & Trust grew its stake in Salesforce by 12.6% in the 4th quarter. Montecito Bank & Trust now owns 4,270 shares of the CRM provider's stock valued at $1,428,000 after buying an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Macquarie restated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Wells Fargo & Company reduced their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Westpark Capital restated a "buy" rating and set a $320.00 price target on shares of Salesforce in a research report on Wednesday, April 30th. Finally, DA Davidson restated an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $349.87.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 705 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the transaction, the insider now 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 a total of 46,553 shares of company stock worth $12,897,323 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 1.4%

Shares of Salesforce stock traded up $3.80 during midday trading on Tuesday, reaching $276.93. 10,643,584 shares of the company's stock traded hands, compared to its average volume of 6,934,532. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $266.24 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The stock has a 50 day moving average of $268.33 and a 200-day moving average of $306.20. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend 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 is currently 26.10%.

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.