Salesforce, Inc. (NYSE:CRM) Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. grew its position in Salesforce, Inc. (NYSE:CRM) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,902 shares of the CRM provider’s stock after acquiring an additional 402 shares during the quarter. Salesforce comprises approximately 0.8% of Twin Capital Management Inc.’s portfolio, making the stock its 18th biggest position. Twin Capital Management Inc.’s holdings in Salesforce were worth $7,657,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC grew 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 valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. Collier Financial purchased a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $35,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 652 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Oscar Munoz purchased 3,882 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now owns 11,843 shares in the company, valued at $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 over the last three months. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 5.9 %

CRM opened at $240.26 on Monday. The company has a market cap of $230.89 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 firm has a 50 day moving average price of $302.46 and a 200 day moving average price of $311.80.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

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.