Krane Funds Advisors LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Krane Funds Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,349 shares of the CRM provider’s stock, valued at approximately $451,000.

Other hedge funds have also recently modified their holdings of the company. United Bank grew its stake in Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the last quarter. Zacks Investment Management grew its position in shares of Salesforce by 14.8% in the 3rd quarter. Zacks Investment Management now owns 34,918 shares of the CRM provider’s stock worth $9,558,000 after buying an additional 4,489 shares during the last quarter. Dunhill Financial LLC raised its stake in shares of Salesforce by 36.4% during the 3rd quarter. Dunhill Financial LLC now owns 390 shares of the CRM provider’s stock worth $107,000 after acquiring an additional 104 shares in the last quarter. Kensington Investment Counsel LLC lifted its position in Salesforce by 4.8% during the third quarter. Kensington Investment Counsel LLC now owns 3,104 shares of the CRM provider’s stock valued at $850,000 after acquiring an additional 141 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in Salesforce by 6.3% in the third quarter. MML Investors Services LLC now owns 154,793 shares of the CRM provider’s stock valued at $42,368,000 after acquiring an additional 9,229 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This represents a 7.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Guggenheim reissued a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Loop Capital cut their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

Salesforce Stock Down 5.9 %

Shares of NYSE:CRM opened at $240.26 on Monday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $230.89 billion, a P/E ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The business has a fifty day moving average of $302.46 and a two-hundred day moving average of $311.80. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 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.