Columbus Hill Capital Management L.P. Has $3.34 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Columbus Hill Capital Management L.P. reduced its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 71.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the CRM provider's stock after selling 25,459 shares during the quarter. Salesforce comprises 0.7% of Columbus Hill Capital Management L.P.'s holdings, making the stock its 23rd biggest position. Columbus Hill Capital Management L.P.'s holdings in Salesforce were worth $3,343,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth about $3,599,867,000. Raymond James Financial Inc. bought a new position in Salesforce during the 4th quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB increased its stake in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Salesforce by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider's stock worth $1,871,721,000 after purchasing an additional 1,204,355 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE:CRM traded down $1.04 during mid-day trading on Wednesday, hitting $242.95. 2,816,997 shares of the stock were exchanged, compared to its average volume of 6,722,685. The firm's 50-day simple moving average is $295.86 and its 200 day simple moving average is $311.01. The stock has a market capitalization of $233.47 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Oscar Munoz bought 3,882 shares of Salesforce stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the acquisition, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. Stephens began coverage on Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price for the company. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Citigroup reiterated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Loop Capital dropped their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Salesforce 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.