Shay Capital LLC Buys 6,120 Shares of Salesforce, Inc. (NYSE:CRM)

Shay Capital LLC increased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 443.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,500 shares of the CRM provider's stock after buying an additional 6,120 shares during the period. Shay Capital LLC's holdings in Salesforce were worth $2,507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after purchasing an additional 4,752 shares during the period. Athena Investment Management purchased a new stake in Salesforce in the fourth quarter worth $236,000. Highland Capital Management LLC bought a new position in Salesforce in the fourth quarter worth $4,321,000. Jag Capital Management LLC lifted 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 valued at $7,926,000 after buying an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Salesforce during the 4th quarter valued at $2,861,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRM shares. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Morgan Stanley lowered their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Oppenheimer reduced their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and increased their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $352.62.

Salesforce Stock Down 0.1%

CRM opened at $290.48 on Friday. The firm's 50 day simple moving average is $267.83 and its two-hundred day simple moving average is $307.08. The company has a market capitalization of $279.26 billion, a PE ratio of 47.78, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $15,342,415. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,527 shares of company stock worth $14,882,976. Corporate 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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