iSAM Funds UK Ltd Invests $752,000 in Salesforce, Inc. (NYSE:CRM)

iSAM Funds UK Ltd acquired a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,248 shares of the CRM provider's stock, valued at approximately $752,000.

Several other institutional investors also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the fourth 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 in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce during the fourth quarter valued at about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Cantor Fitzgerald began coverage on Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price objective for the company. Scotiabank lowered their price target on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Finally, Piper Sandler lowered their price target on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $352.62.

Salesforce Stock Performance

Shares of CRM stock opened at $287.03 on Tuesday. The firm has a market cap of $275.95 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 2.58 and a beta of 1.42. The company's 50 day moving average is $268.15 and its 200 day moving average is $307.16. 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 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 issued a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now directly owns 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction 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 transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by insiders.

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.

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