Salesforce, Inc. (NYSE:CRM) Position Increased by Bridgewater Associates LP

Bridgewater Associates LP grew its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 85.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 502,427 shares of the CRM provider's stock after buying an additional 232,013 shares during the period. Salesforce accounts for about 0.8% of Bridgewater Associates LP's holdings, making the stock its 16th largest holding. Bridgewater Associates LP owned about 0.05% of Salesforce worth $167,976,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter valued at $25,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,654 shares of company stock worth $14,124,094 in the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CRM shares. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective on the stock. Macquarie restated a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Finally, Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $360.32.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $2.91 during trading on Friday, reaching $246.93. 5,564,231 shares of the company's stock traded hands, compared to its average volume of 6,775,715. 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 50 day moving average of $281.23 and a 200-day moving average of $309.39. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

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.