MayTech Global Investments LLC Acquires 5,230 Shares of Salesforce, Inc. (NYSE:CRM)

MayTech Global Investments LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,061 shares of the CRM provider's stock after purchasing an additional 5,230 shares during the quarter. Salesforce makes up 5.0% of MayTech Global Investments LLC's holdings, making the stock its 7th largest position. MayTech Global Investments LLC's holdings in Salesforce were worth $42,480,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Foundations Investment Advisors LLC boosted its holdings in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce in the 4th quarter worth $236,000. Highland Capital Management LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $4,321,000. Jag Capital Management LLC increased its position in Salesforce by 2,507.9% during the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after purchasing an additional 22,797 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Salesforce during the fourth quarter worth about $2,861,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on CRM shares. TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and lifted their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Macquarie reissued a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wells Fargo & Company reduced their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens began coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $350.56.

Insider Activity

In related news, Director Robin L. Washington purchased 1,695 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction dated 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 owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,830 shares of company stock worth $12,907,361. Company insiders own 3.20% of the company's stock.

Salesforce Price Performance

Salesforce stock opened at $288.62 on Tuesday. The stock has a market capitalization of $277.48 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business has a 50 day simple moving average of $267.27 and a 200-day simple moving average of $307.35.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. 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 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

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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