97,833 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Candlestick Capital Management LP

Candlestick Capital Management LP bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 97,833 shares of the CRM provider's stock, valued at approximately $32,709,000.

Other large investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the fourth 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 bought a new stake in shares of Salesforce during the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the fourth quarter worth $32,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 1.2 %

Salesforce stock opened at $267.87 on Monday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two 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 has a market capitalization of $257.42 billion, a P/E ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38. The stock has a 50-day simple moving average of $273.75 and a 200-day simple moving average of $308.54.

Salesforce Increases Dividend

The company 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 is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,256 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the completion of the sale, the chief accounting officer now directly owns 12,826 shares of the company's stock, valued at $3,248,954.06. This represents a 8.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on 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 owns 36,090 shares in the company, valued at $9,141,957.90. The trade was 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 valued at $15,027,714 in the last ninety days. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a report on Friday. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Morgan Stanley cut their target price on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald began coverage on Salesforce in a research note on Wednesday. They issued an "overweight" rating and a $210.00 target price on the stock. Finally, Loop Capital cut their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $351.37.

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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