Renaissance Technologies LLC Purchases 93,154 Shares of Salesforce, Inc. (NYSE:CRM)

Renaissance Technologies LLC boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 38.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 333,442 shares of the CRM provider's stock after buying an additional 93,154 shares during the period. Renaissance Technologies LLC's holdings in Salesforce were worth $111,480,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter worth about $31,000. Collier Financial purchased a new position in Salesforce during the 4th quarter valued at about $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Salesforce during the fourth quarter worth about $35,000. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Oscar Munoz purchased 3,882 shares of Salesforce stock in a transaction on Thursday, April 3rd. The stock was bought 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 owns 11,843 shares in the company, valued at $3,046,967.04. The trade was a 48.76 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company's stock.

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Salesforce Price Performance

NYSE:CRM traded down $0.14 during trading hours on Friday, hitting $254.98. 6,087,156 shares of the stock traded hands, compared to its average volume of 6,824,013. The company has a market cap of $245.04 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a 50 day moving average price of $289.29 and a 200 day moving average price of $310.70. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. Salesforce's payout ratio is 26.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CRM shares. Wells Fargo & Company decreased their target price on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Macquarie reiterated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, DA Davidson dropped their price target on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $361.42.

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.