Gardner Lewis Asset Management L P Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Gardner Lewis Asset Management L P increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 61.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,405 shares of the CRM provider’s stock after buying an additional 2,830 shares during the period. Gardner Lewis Asset Management L P’s holdings in Salesforce were worth $2,476,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the 3rd quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% during the fourth 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 last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the 4th quarter worth approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRM. Oppenheimer dropped their price objective 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. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $277.88 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day moving average price of $310.49 and a 200 day moving average price of $310.51. The stock has a market capitalization of $267.04 billion, a P/E ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

About Salesforce

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.