Sphera Management Technology Funds Ltd Acquires Shares of 2,350 Salesforce, Inc. (NYSE:CRM)

Sphera Management Technology Funds Ltd purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,350 shares of the CRM provider's stock, valued at approximately $786,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Salesforce in the 4th quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Salesforce during the fourth quarter worth about $1,173,564,000. Invesco Ltd. increased its position in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at $3,218,599.80. The trade was a 14.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,306 shares of company stock valued at $12,841,368 over the last ninety days. Company insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Morgan Stanley cut their price target on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price for the company. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Westpark Capital restated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, April 30th. Finally, Robert W. Baird cut their price objective 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus target price of $352.62.

Salesforce Stock Up 0.0%

Salesforce stock traded up $0.01 during trading hours on Tuesday, hitting $287.64. 4,026,816 shares of the stock traded hands, compared to its average volume of 6,889,264. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $276.53 billion, a PE ratio of 47.31, a PEG ratio of 2.58 and a beta of 1.42. The firm's 50-day moving average price is $268.48 and its two-hundred day moving average price is $307.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

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.