Soros Capital Management LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Soros Capital Management LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,000 shares of the CRM provider’s stock, valued at approximately $14,711,000. Salesforce comprises approximately 2.3% of Soros Capital Management LLC’s portfolio, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the fourth quarter worth $25,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $246.93 on Monday. The stock’s 50-day moving average price is $281.23 and its 200 day moving average price is $309.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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 $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Citigroup restated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Jefferies Financial Group cut 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. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $360.32.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 652 shares of the firm’s 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 transaction, the insider now owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,654 shares of company stock valued at $14,124,094. 3.20% of the stock is owned by corporate 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.