Locust Wood Capital Advisers LLC Sells 3,278 Shares of Salesforce, Inc. (NYSE:CRM)

Locust Wood Capital Advisers LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,248 shares of the CRM provider’s stock after selling 3,278 shares during the quarter. Salesforce makes up approximately 3.5% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 12th largest position. Locust Wood Capital Advisers LLC’s holdings in Salesforce were worth $100,382,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Salesforce during the fourth quarter valued at $3,599,867,000. Raymond James Financial Inc. purchased a new position in Salesforce in the fourth quarter worth about $1,173,564,000. Invesco Ltd. boosted its position in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Jennison Associates LLC boosted its position in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, Director Oscar Munoz acquired 3,882 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now directly owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This trade represents a 48.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares in the company, 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. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim reissued a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Finally, Canaccord Genuity Group decreased their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Price Performance

Shares of Salesforce stock opened at $265.32 on Thursday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market capitalization of $254.97 billion, a P/E ratio of 43.64, a PEG ratio of 2.58 and a beta of 1.38. 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 business’s fifty day moving average price is $292.76 and its 200 day moving average price is $310.70.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued 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 0.63%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

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.