Soros Capital Management LLC Purchases New Shares in Salesforce, Inc. (NYSE:CRM)

Soros Capital Management LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 44,000 shares of the CRM provider's stock, valued at approximately $14,711,000. Salesforce comprises about 2.3% of Soros Capital Management LLC's investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after buying an additional 175,035 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the period. Norges Bank acquired a new stake in Salesforce during the 4th quarter worth approximately $3,599,867,000. Invesco Ltd. raised its holdings in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Salesforce by 10.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock worth $2,204,336,000 after buying an additional 628,593 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRM. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Stifel Nicolaus cut their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Stephens initiated coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target for the company. Loop Capital dropped their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Finally, Macquarie reiterated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $355.19.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,525 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the completion of the transaction, the chief accounting officer now owns 12,211 shares in the company, valued at approximately $3,097,442.26. This trade represents a 11.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of CRM stock traded up $13.81 during midday trading on Thursday, reaching $264.29. 7,846,607 shares of the company were exchanged, compared to its average volume of 6,797,040. The company's 50 day moving average price is $276.19 and its two-hundred day moving average price is $308.58. The company has a market cap of $253.98 billion, a P/E ratio of 43.47, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $212.00 and a 12 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.

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 given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio is 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.