Winslow Capital Management LLC Reduces Position in Salesforce, Inc. (NYSE:CRM)

Winslow Capital Management LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 40.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,545 shares of the CRM provider's stock after selling 1,067 shares during the quarter. Winslow Capital Management LLC's holdings in Salesforce were worth $517,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRM. Norges Bank purchased a new position in Salesforce during the fourth quarter worth $3,599,867,000. Raymond James Financial Inc. bought a new stake in Salesforce in the fourth quarter worth about $1,173,564,000. Invesco Ltd. boosted its position in shares of Salesforce by 42.5% during 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. Jennison Associates LLC raised its holdings in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the period. Finally, Swedbank AB lifted its stake in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

CRM traded down $0.14 on Friday, reaching $254.98. The stock had a trading volume of 6,087,156 shares, compared to its average volume of 6,824,013. The business's 50-day moving average price is $289.29 and its two-hundred day moving average price is $310.70. The company has a market cap of $245.04 billion, a P/E ratio of 41.94, a price-to-earnings-growth 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors 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. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. Salesforce's dividend payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Macquarie reiterated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. Wedbush restated an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Stifel Nicolaus reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $361.42.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the business'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 completion of the sale, the chief financial officer now owns 45,861 shares of the company's stock, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Oscar Munoz purchased 3,882 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the purchase, the director now directly owns 11,843 shares in the company, valued at $3,046,967.04. This represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

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.