XTX Topco Ltd Invests $4.54 Million in Salesforce, Inc. (NYSE:CRM)

XTX Topco Ltd acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 13,572 shares of the CRM provider's stock, valued at approximately $4,538,000. Salesforce comprises about 0.4% of XTX Topco Ltd's investment portfolio, making the stock its 12th biggest holding.

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

Salesforce Stock Down 0.4 %

Shares of Salesforce stock traded down $0.96 during midday trading on Monday, reaching $254.04. 6,037,638 shares of the company's stock traded hands, compared to its average volume of 6,820,883. The company has a market cap of $244.13 billion, a price-to-earnings ratio of 41.78, a price-to-earnings-growth 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. The company's 50 day simple moving average is $287.42 and its 200 day simple moving average is $310.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Remove Ads

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. 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%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRM. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Scotiabank cut their price target on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Guggenheim reaffirmed a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Robert W. Baird dropped 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. Finally, Citigroup restated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. One 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.76.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the company's stock in a transaction 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 directly owns 46,750 shares of the company's stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction 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 in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

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.