Sand Hill Global Advisors LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Sand Hill Global Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,004 shares of the CRM provider's stock after selling 1,191 shares during the period. Salesforce makes up about 0.6% of Sand Hill Global Advisors LLC's portfolio, making the stock its 28th biggest holding. Sand Hill Global Advisors LLC's holdings in Salesforce were worth $13,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CRM. Renaissance Technologies LLC boosted its holdings in shares of Salesforce by 38.8% in the 4th quarter. Renaissance Technologies LLC now owns 333,442 shares of the CRM provider's stock valued at $111,480,000 after purchasing an additional 93,154 shares in the last quarter. Bank of Nova Scotia grew its position in Salesforce by 28.8% in the fourth quarter. Bank of Nova Scotia now owns 895,128 shares of the CRM provider's stock valued at $299,279,000 after acquiring an additional 199,938 shares during the last quarter. Shelton Capital Management raised its stake in Salesforce by 20.5% during the fourth quarter. Shelton Capital Management now owns 44,574 shares of the CRM provider's stock worth $14,902,000 after acquiring an additional 7,598 shares in the last quarter. Canopy Partners LLC lifted its holdings in shares of Salesforce by 1.6% in the fourth quarter. Canopy Partners LLC now owns 6,381 shares of the CRM provider's stock worth $2,133,000 after acquiring an additional 98 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new stake in shares of Salesforce during the 4th quarter valued at approximately $451,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM traded down $0.14 during mid-day trading on Friday, reaching $254.98. 6,087,156 shares of the company were exchanged, compared to its average volume of 6,812,000. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company's 50 day moving average price is $289.29 and its 200 day moving average price is $310.46. The stock has a market capitalization of $245.04 billion, a PE ratio of 41.94, a PEG ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reissued a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Guggenheim reaffirmed a "sell" rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Scotiabank dropped their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $361.42.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by insiders.

Salesforce Company 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.