Salesforce, Inc. (NYSE:CRM) Shares Sold by Alight Capital Management LP

Alight Capital Management LP reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 42.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,000 shares of the CRM provider's stock after selling 30,000 shares during the period. Salesforce makes up approximately 4.4% of Alight Capital Management LP's portfolio, making the stock its 6th biggest holding. Alight Capital Management LP's holdings in Salesforce were worth $13,373,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 0.2 %

NYSE:CRM opened at $269.17 on Friday. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock's 50 day moving average price is $269.95 and its 200 day moving average price is $307.67. The company has a market capitalization of $258.78 billion, a PE ratio of 44.27, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock worth $15,027,714 in the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. Westpark Capital reaffirmed a "buy" rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research note on Monday, April 21st. Morgan Stanley reduced their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Oppenheimer lowered their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $350.56.

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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