Light Street Capital Management LLC Purchases 172 Shares of Salesforce, Inc. (NYSE:CRM)

Light Street Capital Management LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,255 shares of the CRM provider’s stock after acquiring an additional 172 shares during the period. Salesforce accounts for 3.1% of Light Street Capital Management LLC’s holdings, making the stock its 11th biggest position. Light Street Capital Management LLC’s holdings in Salesforce were worth $16,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Regent Peak Wealth Advisors LLC increased its holdings in Salesforce by 3.6% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock worth $818,000 after buying an additional 84 shares during the period. Czech National Bank lifted its position in Salesforce by 5.0% during the fourth quarter. Czech National Bank now owns 207,280 shares of the CRM provider’s stock valued at $69,300,000 after purchasing an additional 9,885 shares during the period. Aprio Wealth Management LLC grew its position in Salesforce by 35.7% during the 4th quarter. Aprio Wealth Management LLC now owns 3,945 shares of the CRM provider’s stock worth $1,319,000 after purchasing an additional 1,038 shares during the period. Crescent Sterling Ltd. raised its stake in shares of Salesforce by 86.8% during the 4th quarter. Crescent Sterling Ltd. now owns 1,719 shares of the CRM provider’s stock valued at $575,000 after buying an additional 799 shares during the last quarter. Finally, Winthrop Advisory Group LLC boosted its stake in shares of Salesforce by 2.7% in the fourth quarter. Winthrop Advisory Group LLC now owns 1,950 shares of the CRM provider’s stock worth $652,000 after buying an additional 51 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.6%

CRM opened at $275.38 on Monday. The stock has a market capitalization of $264.75 billion, a P/E ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. 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, Inc. has a one year low of $212.00 and a one year high of $369.00. The business’s 50-day simple moving average is $267.33 and its 200-day simple moving average is $307.36.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Stephens began coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective on the stock. Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Finally, Piper Sandler lowered their price target on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $350.56.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,342,415. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is owned by 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.