Townsquare Capital LLC Has $16.70 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Townsquare Capital LLC increased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 14.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,961 shares of the CRM provider's stock after purchasing an additional 6,249 shares during the period. Townsquare Capital LLC's holdings in Salesforce were worth $16,704,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the 4th quarter valued at about $25,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial bought a new position in Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Salesforce stock traded down $0.96 during mid-day trading on Monday, reaching $254.04. 6,037,638 shares of the company were exchanged, compared to its average volume of 6,820,881. The company has a fifty day simple moving average of $289.29 and a 200-day simple moving average of $310.70. The firm has a market cap of $244.13 billion, a PE ratio of 41.78, a PEG ratio of 2.58 and a beta of 1.38. 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 12 month low of $212.00 and a 12 month high of $369.00.

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Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CRM shares. Guggenheim reiterated a "sell" rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Scotiabank dropped their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and lifted their price target for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $360.76.

Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at $1,570,312.44. This represents a 41.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company's stock.

About Salesforce

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.