Monolith Management Ltd Takes Position in Salesforce, Inc. (NYSE:CRM)

Monolith Management Ltd bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 42,000 shares of the CRM provider’s stock, valued at approximately $14,042,000. Salesforce comprises approximately 7.3% of Monolith Management Ltd’s portfolio, making the stock its 4th largest position.

Other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter worth $25,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial purchased a new position in Salesforce in the fourth quarter worth approximately $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce 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 sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,051 shares of company stock valued at $15,027,714 over the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Canaccord Genuity Group dropped their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. One research 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 issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $351.37.

Salesforce Price Performance

Shares of CRM opened at $264.29 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $274.96 and its two-hundred day moving average is $308.44. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $253.98 billion, a PE ratio of 43.47, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce’s payout ratio is 26.10%.

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.