Soros Fund Management LLC Acquires 141,016 Shares of Salesforce, Inc. (NYSE:CRM)

Soros Fund Management LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 90.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,420 shares of the CRM provider’s stock after acquiring an additional 141,016 shares during the quarter. Salesforce comprises about 1.5% of Soros Fund Management LLC’s investment portfolio, making the stock its 16th biggest holding. Soros Fund Management LLC’s holdings in Salesforce were worth $99,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foundations Investment Advisors LLC increased its position in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Athena Investment Management bought a new position in Salesforce during the fourth quarter valued at approximately $236,000. Highland Capital Management LLC bought a new stake in Salesforce in the fourth quarter worth $4,321,000. Nordea Investment Management AB grew its position in Salesforce by 11.9% in the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after acquiring an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in Salesforce by 14.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after buying an additional 1,936 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of NYSE CRM opened at $265.61 on Tuesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. 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 company has a market capitalization of $255.35 billion, a PE ratio of 43.69, a P/E/G ratio of 2.58 and a beta of 1.38. The firm has a fifty day simple moving average of $272.58 and a 200 day simple moving average of $308.39.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. 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 annualized dividend and a dividend yield of 0.63%. Salesforce’s payout ratio is presently 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Millham sold 979 shares of Salesforce stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $248,333.14. Following the sale, the chief executive officer now directly owns 6,487 shares of the company’s stock, valued at $1,645,492.42. This represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock valued at $15,027,714 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Stephens initiated coverage on Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Loop Capital cut their price target 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. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 target price for the company. Finally, Canaccord Genuity Group dropped their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $351.37.

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.