Salesforce, Inc. (NYSE:CRM) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,872 shares of the CRM provider’s stock after acquiring an additional 2,826 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Salesforce were worth $8,441,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nvest Financial LLC raised its holdings 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 worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD grew its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its holdings in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $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 CRM stock opened at $270.04 on Monday. The company has a market capitalization of $259.51 billion, a P/E ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50 day moving average price is $309.39 and its two-hundred day moving average price is $311.57.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio is presently 26.10%.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares of the company’s stock, valued at $8,416,644.60. This represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock worth $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Scotiabank cut their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. DA Davidson cut their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group decreased their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $362.74.

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.