Salesforce, Inc. (NYSE:CRM) Holdings Trimmed by Farallon Capital Management LLC

Farallon Capital Management LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 40.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,210,138 shares of the CRM provider’s stock after selling 834,800 shares during the quarter. Salesforce comprises about 2.1% of Farallon Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Farallon Capital Management LLC’s holdings in Salesforce were worth $404,585,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CRM. Fiduciary Trust Co raised its holdings in shares of Salesforce by 3.8% in the 4th quarter. Fiduciary Trust Co now owns 45,238 shares of the CRM provider’s stock worth $15,125,000 after purchasing an additional 1,673 shares in the last quarter. First Manhattan CO. LLC. increased its holdings in shares of Salesforce by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,558,586 shares of the CRM provider’s stock valued at $527,792,000 after buying an additional 15,899 shares in the last quarter. Family Management Corp lifted its position in shares of Salesforce by 4.4% during the 4th quarter. Family Management Corp now owns 21,600 shares of the CRM provider’s stock valued at $7,222,000 after acquiring an additional 918 shares during the last quarter. FWL Investment Management LLC boosted its stake in shares of Salesforce by 32.3% during the 4th quarter. FWL Investment Management LLC now owns 410 shares of the CRM provider’s stock worth $137,000 after acquiring an additional 100 shares in the last quarter. Finally, Citizens Business Bank grew its holdings in shares of Salesforce by 97.8% in the 4th quarter. Citizens Business Bank now owns 20,710 shares of the CRM provider’s stock worth $6,924,000 after acquiring an additional 10,238 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $279.54 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market cap of $268.75 billion, a P/E ratio of 45.98, a PEG ratio of 2.58 and a beta of 1.42. The company’s 50-day simple moving average is $267.57 and its 200 day simple moving average is $307.15. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director Robin L. Washington purchased 1,695 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRM shares. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Wells Fargo & Company dropped 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 report 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 report on Friday, April 25th. Westpark Capital reiterated a “buy” rating and set a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $350.56.

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.