97,833 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Candlestick Capital Management LP

Candlestick Capital Management LP purchased a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 97,833 shares of the CRM provider’s stock, valued at approximately $32,709,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nvest Financial LLC lifted its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD lifted its stake in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC lifted its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.2 %

Shares of CRM stock opened at $267.87 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a fifty day moving average of $273.75 and a two-hundred day moving average of $308.54. The firm has a market capitalization of $257.42 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Morgan Stanley reduced their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Oppenheimer reduced their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Finally, Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $351.37.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,705,195. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,525 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the sale, the chief accounting officer now owns 12,211 shares in the company, valued at $3,097,442.26. This represents a 11.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by company insiders.

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.