Trybe Capital Management LP Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Trybe Capital Management LP bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 133,524 shares of the CRM provider's stock, valued at approximately $44,641,000. Salesforce makes up approximately 6.0% of Trybe Capital Management LP's investment portfolio, making the stock its 9th biggest holding.

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

Salesforce Stock Up 0.0%

Salesforce stock traded up $0.01 during trading hours on Tuesday, hitting $287.64. The stock had a trading volume of 4,026,816 shares, compared to its average volume of 6,889,261. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $276.53 billion, a P/E ratio of 47.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock's 50-day moving average price is $268.15 and its 200-day moving average price is $307.16.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.58%. Salesforce's payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRM shares. Westpark Capital reissued a "buy" rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday, April 30th. Jefferies Financial Group decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, DA Davidson reaffirmed an "underperform" rating and set a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $352.62.

Insider Activity

In other Salesforce news, insider Miguel Milano sold 458 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the sale, the chief accounting officer now owns 11,711 shares of the company's stock, valued at $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock valued at $12,841,368 over the last three months. Insiders own 3.20% of the company's stock.

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.