PARUS FINANCE UK Ltd Sells 921 Shares of Salesforce, Inc. (NYSE:CRM)

PARUS FINANCE UK Ltd lowered its position in Salesforce, Inc. (NYSE:CRM) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,249 shares of the CRM provider’s stock after selling 921 shares during the period. Salesforce accounts for about 3.4% of PARUS FINANCE UK Ltd’s holdings, making the stock its 11th biggest position. PARUS FINANCE UK Ltd’s holdings in Salesforce were worth $10,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $270.04 on Friday. The stock’s 50 day moving average price is $309.39 and its 200-day moving average price is $310.68. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market capitalization of $259.51 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Insider Activity

In other news, CEO Brian Millham sold 3,937 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at $1,570,312.44. This represents a 41.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction 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 approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CRM shares. Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank cut their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.