Locust Wood Capital Advisers LLC Has $100.38 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Locust Wood Capital Advisers LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,248 shares of the CRM provider's stock after selling 3,278 shares during the period. Salesforce makes up 3.5% of Locust Wood Capital Advisers LLC's portfolio, making the stock its 12th biggest holding. 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 recently modified their holdings of CRM. Nvest Financial LLC lifted its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC increased its stake in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after buying an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

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Salesforce Price Performance

NYSE CRM traded down $0.79 on Monday, reaching $254.21. The company's stock had a trading volume of 2,232,284 shares, compared to its average volume of 6,806,232. The stock has a market cap of $244.30 billion, a PE ratio of 41.81, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month 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. The firm's 50 day moving average is $289.29 and its two-hundred day moving average is $310.70.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Oscar Munoz acquired 3,882 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the acquisition, the director now directly owns 11,843 shares of the company's stock, valued at $3,046,967.04. The trade was a 48.76 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last quarter. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. JMP Securities restated a "market outperform" rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $361.42.

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.