Crestline Management LP Cuts Position in Salesforce, Inc. (NYSE:CRM)

Crestline Management LP lowered its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 40.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,389 shares of the CRM provider's stock after selling 37,880 shares during the period. Salesforce makes up approximately 0.6% of Crestline Management LP's portfolio, making the stock its 23rd largest position. Crestline Management LP's holdings in Salesforce were worth $18,853,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Advantage Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $681,000. Caption Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth $3,410,000. Cetera Investment Advisers increased its holdings in Salesforce by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 315,193 shares of the CRM provider's stock valued at $105,379,000 after buying an additional 12,086 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in Salesforce in the fourth quarter valued at $16,303,000. Finally, Captrust Financial Advisors boosted its position in shares of Salesforce by 369.8% during the 4th quarter. Captrust Financial Advisors now owns 244,595 shares of the CRM provider's stock worth $81,776,000 after acquiring an additional 192,526 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This trade represents a 14.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $12,907,361 in the last ninety days. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CRM shares. Cantor Fitzgerald initiated coverage on Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target on the stock. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $350.56.

Salesforce Price Performance

Shares of NYSE CRM traded down $4.36 during trading on Friday, reaching $275.38. The company had a trading volume of 4,322,783 shares, compared to its average volume of 6,832,205. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a 50-day moving average price of $267.33 and a two-hundred day moving average price of $307.06. The stock has a market capitalization of $264.75 billion, a PE ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio is 26.10%.

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.