Point72 Hong Kong Ltd Purchases New Shares in Salesforce, Inc. (NYSE:CRM)

Point72 Hong Kong Ltd purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,221 shares of the CRM provider's stock, valued at approximately $5,089,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Nvest Financial LLC increased its position in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC increased its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its position in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $289.77 on Thursday. The stock has a market cap of $278.58 billion, a price-to-earnings ratio of 47.66, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock's 50-day moving average is $267.47 and its 200 day moving average is $307.10.

Salesforce Increases Dividend

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

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at $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. Over the last 90 days, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Loop Capital cut their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and increased their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating for the company. Finally, DA Davidson restated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $350.56.

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.

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