ExodusPoint Capital Management LP Makes New Investment in Salesforce, Inc. (NYSE:CRM)

ExodusPoint Capital Management LP purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,957 shares of the CRM provider's stock, valued at approximately $15,365,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Salesforce during the fourth quarter worth about $3,599,867,000. Raymond James Financial Inc. acquired a new position in Salesforce during the 4th quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its stake in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares in the last quarter. Swedbank AB grew its stake in shares of Salesforce by 46.7% during the 4th 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 in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Salesforce by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider's stock valued at $1,871,721,000 after purchasing an additional 1,204,355 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other Salesforce news, Director Oscar Munoz bought 3,882 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the purchase, the director now owns 11,843 shares in the company, valued at $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the sale, the insider now owns 29,190 shares in the company, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company's stock.

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Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Scotiabank decreased their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Guggenheim restated a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Wedbush reiterated an "outperform" rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $361.42.

Salesforce Price Performance

Shares of NYSE CRM traded down $14.97 during trading hours on Friday, hitting $240.26. 9,689,126 shares of the stock were exchanged, compared to its average volume of 6,684,703. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $230.89 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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's fifty day simple moving average is $302.46 and its two-hundred day simple moving average is $311.00.

Salesforce Increases Dividend

The firm 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 $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. Salesforce's dividend payout ratio (DPR) is presently 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.