Lynwood Price Capital Management LP Buys Shares of 41,000 Salesforce, Inc. (NYSE:CRM)

Lynwood Price Capital Management LP acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 41,000 shares of the CRM provider's stock, valued at approximately $13,708,000. Salesforce makes up 9.4% of Lynwood Price Capital Management LP's portfolio, making the stock its 4th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC raised its holdings in Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Norges Bank acquired a new position in Salesforce in the fourth quarter valued at $3,599,867,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 10.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock worth $2,204,336,000 after acquiring an additional 628,593 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM stock opened at $255.06 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $304.32 and a 200 day moving average of $311.11. The firm has a market capitalization of $245.11 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. 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 yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Analyst Ratings Changes

A number of research firms recently issued reports on CRM. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. DA Davidson decreased their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Scotiabank decreased their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Finally, 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 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $361.42.

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Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 7,057 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last three months. Company insiders own 3.20% of the company's stock.

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.

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