62,890 Shares in Salesforce, Inc. (NYSE:CRM) Bought by CenterBook Partners LP

CenterBook Partners LP acquired a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 62,890 shares of the CRM provider's stock, valued at approximately $21,026,000. Salesforce comprises 1.3% of CenterBook Partners LP's portfolio, making the stock its 10th biggest position.

Other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC boosted its stake 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 valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE CRM traded down $0.14 during trading hours on Friday, hitting $254.98. The company's stock had a trading volume of 6,087,156 shares, compared to its average volume of 6,824,013. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company's 50 day simple moving average is $289.29 and its two-hundred day simple moving average is $310.70. 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 cap of $245.04 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

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Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research 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 given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $361.42.

Insider Activity at Salesforce

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 value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 652 shares of the company's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the sale, the insider now owns 121,467 shares of the company's stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 over the last quarter. 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.