Elwood Capital Partners LP Invests $1.34 Million in Salesforce, Inc. (NYSE:CRM)

Elwood Capital Partners LP bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,000 shares of the CRM provider's stock, valued at approximately $1,337,000. Salesforce comprises approximately 1.3% of Elwood Capital Partners LP's portfolio, making the stock its 16th largest position.

Several other institutional investors also recently made changes to their positions in CRM. United Bank grew its position in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider's stock worth $1,999,000 after purchasing an additional 76 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Salesforce during the third quarter worth approximately $53,000. Kestra Investment Management LLC bought a new position in Salesforce in the 3rd quarter worth approximately $766,000. Benjamin Edwards Inc. increased its position in Salesforce by 3,967.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,414 shares of the CRM provider's stock valued at $12,157,000 after acquiring an additional 43,322 shares during the period. Finally, Arrowroot Family Office LLC raised its stake in Salesforce by 3.4% during the 3rd quarter. Arrowroot Family Office LLC now owns 4,694 shares of the CRM provider's stock valued at $1,285,000 after acquiring an additional 156 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 0.7 %

Shares of NYSE:CRM traded up $1.82 during midday trading on Tuesday, hitting $270.18. 4,596,911 shares of the stock were exchanged, compared to its average volume of 6,653,506. The company has a market capitalization of $259.64 billion, a PE ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35. 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 quick ratio of 1.11 and a current ratio of 1.11. The business's fifty day simple moving average is $307.13 and its two-hundred day simple moving average is $311.78.

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Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. Northland Securities reissued an "outperform" rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Jefferies Financial Group lowered their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

Insider Activity

In related news, COO Brian Millham sold 708 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares of the company's stock, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. 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 three months. 3.20% of the stock is owned by insiders.

Salesforce 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.