NZS Capital LLC Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

NZS Capital LLC trimmed its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 71.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,224 shares of the CRM provider's stock after selling 88,481 shares during the quarter. NZS Capital LLC's holdings in Salesforce were worth $11,776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after acquiring an additional 175,035 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after acquiring an additional 177,321 shares during the last quarter. Norges Bank bought a new stake in Salesforce in the 4th quarter valued at $3,599,867,000. Price T Rowe Associates Inc. MD increased its holdings in Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald assumed coverage on shares of Salesforce in a report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Canaccord Genuity Group reduced their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One research 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $351.37.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on 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 directly owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Millham sold 979 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $248,333.14. Following the completion of the transaction, the chief executive officer now owns 6,487 shares of the company's stock, valued at $1,645,492.42. The trade was a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,051 shares of company stock valued at $15,027,714 over the last 90 days. Insiders own 3.20% of the company's stock.

Salesforce Stock Up 0.8 %

NYSE:CRM traded up $2.15 during midday trading on Tuesday, reaching $267.79. 3,139,350 shares of the stock traded hands, compared to its average volume of 6,814,865. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business has a 50-day moving average of $272.58 and a two-hundred day moving average of $308.39. 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 stock has a market capitalization of $257.45 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

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 dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce's dividend payout ratio is presently 26.10%.

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.