Himension Capital Singapore PTE. LTD. Acquires New Stake in Salesforce, Inc. (NYSE:CRM)

Himension Capital Singapore PTE. LTD. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 3,111 shares of the CRM provider’s stock, valued at approximately $1,040,000.

Other institutional investors have also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. Collier Financial acquired a new position in Salesforce in the fourth quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Salesforce during the fourth quarter valued at $35,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 5.9 %

Shares of Salesforce stock opened at $240.26 on Friday. The firm has a market cap of $230.89 billion, a PE ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $302.46 and a 200-day moving average price of $311.39.

Salesforce Increases Dividend

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 over the last three months. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Guggenheim reissued a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

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.