Salesforce, Inc. (NYSE:CRM) Shares Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP increased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 260.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,472 shares of the CRM provider's stock after buying an additional 17,690 shares during the quarter. Concentric Capital Strategies LP's holdings in Salesforce were worth $8,182,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nvest Financial LLC lifted its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD grew 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 valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC boosted its position in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its stake in 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 acquiring an additional 32 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM opened at $273.65 on Wednesday. The company has a market cap of $263.08 billion, a price-to-earnings ratio of 45.01, a P/E/G ratio of 2.58 and a beta of 1.42. The business's fifty day simple moving average is $268.22 and its two-hundred day simple moving average is $307.43. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.61%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research analyst reports. Westpark Capital restated a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, April 30th. Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company dropped 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, Macquarie reiterated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. One research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $350.56.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. This trade represents a 14.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,830 shares of company stock valued at $12,907,361. Corporate 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.

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