GF Fund Management CO. LTD. Invests $12.16 Million in Salesforce, Inc. (NYSE:CRM)

GF Fund Management CO. LTD. acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,379 shares of the CRM provider's stock, valued at approximately $12,163,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of Salesforce during the fourth quarter worth about $1,955,000. WCG Wealth Advisors LLC raised its position in Salesforce by 4.0% during the 4th quarter. WCG Wealth Advisors LLC now owns 15,948 shares of the CRM provider's stock valued at $5,332,000 after purchasing an additional 618 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Salesforce in the 4th quarter worth approximately $359,000. Vega Investment Solutions bought a new stake in shares of Salesforce in the 4th quarter worth approximately $4,641,000. Finally, Strait & Sound Wealth Management LLC increased its stake in shares of Salesforce by 1.9% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 3,119 shares of the CRM provider's stock valued at $1,043,000 after buying an additional 59 shares during the period. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Morgan Stanley lowered their price objective on Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Mizuho reduced their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Jefferies Financial Group lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.59.

Insider Activity

In related news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This trade represents a 14.44% 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 90 days. Corporate insiders own 3.20% of the company's stock.

Salesforce Price Performance

CRM stock traded down $1.76 during midday trading on Wednesday, hitting $275.43. The company's stock had a trading volume of 4,046,799 shares, compared to its average volume of 6,702,600. 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 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50 day moving average of $268.29 and a two-hundred day moving average of $306.00. The firm has a market capitalization of $264.80 billion, a price-to-earnings ratio of 45.30, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend 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 26.10%.

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.