Victrix Investment Advisors Acquires Shares of 683 Salesforce, Inc. (NYSE:CRM)

Victrix Investment Advisors bought a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel reports. The firm bought 683 shares of the CRM provider’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Sone Capital Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $318,000. Vident Advisory LLC lifted its stake in shares of Salesforce by 4.7% in the 4th quarter. Vident Advisory LLC now owns 122,427 shares of the CRM provider’s stock valued at $40,931,000 after purchasing an additional 5,535 shares during the period. Vienna Asset Management LLC purchased a new stake in Salesforce during the fourth quarter worth $209,000. Sphera Management Technology Funds Ltd purchased a new stake in Salesforce during the fourth quarter worth $786,000. Finally, Square Wave Partners L.P. acquired a new stake in Salesforce during the fourth quarter valued at $7,167,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRM shares. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Piper Sandler lowered their price target on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $352.62.

Insider Activity

In other news, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,527 shares of company stock valued at $14,882,976. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

NYSE:CRM opened at $291.00 on Monday. The stock has a market capitalization of $279.76 billion, a P/E ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a 50 day moving average price of $268.10 and a 200 day moving average price of $307.21.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

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.