Thames Capital Management LLC Buys 8,068 Shares of Salesforce, Inc. (NYSE:CRM)

Thames Capital Management LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 20.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,266 shares of the CRM provider’s stock after buying an additional 8,068 shares during the quarter. Salesforce accounts for 4.3% of Thames Capital Management LLC’s portfolio, making the stock its 9th largest position. Thames Capital Management LLC’s holdings in Salesforce were worth $15,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Foundations Investment Advisors LLC boosted its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the third quarter worth $1,215,000. Athena Investment Management purchased a new position in shares of Salesforce during the fourth quarter valued at $236,000. Highland Capital Management LLC acquired a new position in Salesforce during the fourth quarter valued at $4,321,000. Finally, Geode Capital Management LLC lifted its stake in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 5.9 %

Salesforce stock opened at $240.26 on Friday. The stock has a market cap of $230.89 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business has a 50 day moving average price of $302.46 and a two-hundred day moving average price of $311.39.

Salesforce Increases Dividend

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

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Jefferies Financial Group cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Oppenheimer lowered their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $361.42.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last 90 days. 3.20% of the stock is currently 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.