St. Clair Advisors LLC Makes New $1.76 Million Investment in Salesforce, Inc. (NYSE:CRM)

St. Clair Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,274 shares of the CRM provider's stock, valued at approximately $1,763,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Twinbeech Capital LP purchased a new stake in shares of Salesforce during the fourth quarter valued at $5,690,000. Triglav Skladi D.O.O. purchased a new stake in Salesforce in the fourth quarter valued at $34,812,000. Two Sigma Advisers LP boosted its holdings in Salesforce by 1,904.0% in the fourth quarter. Two Sigma Advisers LP now owns 150,300 shares of the CRM provider's stock valued at $50,250,000 after purchasing an additional 142,800 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Salesforce by 1,004.9% in the fourth quarter. Two Sigma Investments LP now owns 120,615 shares of the CRM provider's stock valued at $40,325,000 after purchasing an additional 109,699 shares during the last quarter. Finally, Tairen Capital Ltd boosted its holdings in Salesforce by 1,023.7% in the fourth quarter. Tairen Capital Ltd now owns 213,500 shares of the CRM provider's stock valued at $71,379,000 after purchasing an additional 194,500 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 458 shares of the 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 sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,527 shares of company stock valued at $14,882,976. Company insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRM shares. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Wells Fargo & Company decreased their price objective 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. Oppenheimer decreased their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Piper Sandler decreased their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Mizuho decreased their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $352.62.

Salesforce Stock Performance

NYSE:CRM opened at $291.00 on Monday. 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 stock has a market capitalization of $279.76 billion, a P/E ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. The company has a 50 day moving average price of $268.10 and a 200 day moving average price of $307.21. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

The business also recently disclosed 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 of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 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.

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