6,988 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Optimize Financial Inc

Optimize Financial Inc acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,988 shares of the CRM provider's stock, valued at approximately $2,336,000. Salesforce makes up 1.8% of Optimize Financial Inc's investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds have also recently modified their holdings of the business. Foundations Investment Advisors LLC increased its holdings in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter worth approximately $236,000. Highland Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $4,321,000. Nordea Investment Management AB lifted its stake in shares of Salesforce by 11.9% in the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock valued at $766,566,000 after purchasing an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC increased its holdings in Salesforce by 14.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock worth $5,252,000 after purchasing an additional 1,936 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business'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 $298,055.16. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Oscar Munoz bought 3,882 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the acquisition, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have 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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Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Macquarie reiterated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $360.76.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $0.96 during trading on Monday, hitting $254.04. 6,037,638 shares of the company were exchanged, compared to its average volume of 6,820,881. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a 50 day moving average of $289.29 and a 200 day moving average of $310.70. The company has a market cap of $244.13 billion, a PE ratio of 41.78, a P/E/G 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 paid a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, April 10th. Salesforce's dividend payout ratio is 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.