Salesforce, Inc. (NYSE:CRM) Shares Purchased by Point72 Europe London LLP

Point72 Europe London LLP grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 50.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 97,200 shares of the CRM provider’s stock after purchasing an additional 32,800 shares during the quarter. Salesforce accounts for 1.9% of Point72 Europe London LLP’s portfolio, making the stock its 14th largest position. Point72 Europe London LLP’s holdings in Salesforce were worth $32,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the fourth quarter valued at about $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter worth $30,000. Finally, Asset Planning Inc bought a new stake in Salesforce during the 4th quarter valued at approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Friday, April 25th. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.56.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $289.77 on Thursday. 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 has a market capitalization of $278.58 billion, a P/E ratio of 47.66, a P/E/G ratio of 2.58 and a beta of 1.42. The business has a 50-day moving average price of $267.47 and a two-hundred day moving average price of $307.10.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. 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 payout ratio is 26.10%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This represents a 14.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. This trade represents a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock worth $12,907,361 over the last ninety days. Company insiders own 3.20% of the company’s stock.

About Salesforce

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.