Mar Vista Investment Partners LLC Sells 10,893 Shares of Salesforce, Inc. (NYSE:CRM)

Mar Vista Investment Partners LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,479 shares of the CRM provider's stock after selling 10,893 shares during the period. Salesforce comprises about 4.4% of Mar Vista Investment Partners LLC's holdings, making the stock its 5th largest position. Mar Vista Investment Partners LLC's holdings in Salesforce were worth $64,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRM. Nvest Financial LLC increased its position in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD grew its stake in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after acquiring an additional 31 shares during the period. 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 during the last quarter. Sachetta LLC raised its stake in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its holdings in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRM shares. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Loop Capital reduced their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group dropped their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $351.37.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,705,195. The trade was a 11.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was 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 approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 1.2 %

Shares of CRM traded up $3.17 during midday trading on Friday, hitting $267.87. 5,649,322 shares of the company's stock traded hands, compared to its average volume of 6,811,850. 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 stock has a market capitalization of $257.42 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm's fifty day moving average is $273.75 and its 200-day moving average is $308.27.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio 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.