Tairen Capital Ltd Purchases 194,500 Shares of Salesforce, Inc. (NYSE:CRM)

Tairen Capital Ltd increased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1,023.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,500 shares of the CRM provider's stock after buying an additional 194,500 shares during the quarter. Salesforce accounts for 10.5% of Tairen Capital Ltd's portfolio, making the stock its biggest holding. Tairen Capital Ltd's holdings in Salesforce were worth $71,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nvest Financial LLC boosted its position in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD lifted its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 458 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. This represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,527 shares of company stock valued at $14,882,976. Corporate insiders own 3.20% of the company's stock.

Salesforce Trading Up 0.1%

NYSE:CRM opened at $291.00 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $268.10 and a 200-day moving average of $307.10. The company has a market cap of $279.76 billion, a PE ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders 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 an increase 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 presently 26.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRM. Stephens began coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective on the stock. Mizuho reduced their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Piper Sandler dropped their target price on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie restated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $352.62.

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.

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