Arrowstreet Capital Limited Partnership Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Arrowstreet Capital Limited Partnership boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 113.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 410,057 shares of the CRM provider's stock after acquiring an additional 217,689 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Salesforce were worth $137,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $1,173,564,000. Jennison Associates LLC boosted its holdings in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the last quarter. Swedbank AB raised its position in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. Finally, Proficio Capital Partners LLC grew its position in shares of Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider's stock valued at $311,998,000 after acquiring an additional 931,566 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.7 %

NYSE:CRM traded up $1.82 during trading hours on Tuesday, hitting $270.18. The company had a trading volume of 4,596,911 shares, compared to its average volume of 6,638,618. The stock has a 50-day moving average price of $308.26 and a 200 day moving average price of $311.67. 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 current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $259.64 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.62%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Guggenheim restated a "sell" rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Northland Securities reiterated an "outperform" rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. The Goldman Sachs Group increased their target price on Salesforce from $360.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given 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 data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 in the last quarter. 3.20% of the stock is owned by company insiders.

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.