Moore Capital Management LP Purchases 27,444 Shares of Salesforce, Inc. (NYSE:CRM)

Moore Capital Management LP boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,311 shares of the CRM provider's stock after purchasing an additional 27,444 shares during the quarter. Moore Capital Management LP's holdings in Salesforce were worth $21,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE CRM opened at $275.38 on Monday. The firm has a market cap of $264.75 billion, a P/E ratio of 45.29, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business's 50-day moving average price is $267.33 and its 200 day moving average price is $307.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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 dividend yield of 0.61%. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Monday, April 21st. Macquarie reaffirmed a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Finally, Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $350.56.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miguel Milano sold 458 shares of the firm'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 sale, the insider now owns 5,864 shares of the company's stock, valued at $1,805,936.08. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company's stock.

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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