Woodline Partners LP Has $56.76 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Woodline Partners LP raised its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 19,437.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,780 shares of the CRM provider's stock after purchasing an additional 168,911 shares during the quarter. Woodline Partners LP's holdings in Salesforce were worth $56,763,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nvest Financial LLC boosted its holdings in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its holdings in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC boosted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,306 shares of company stock worth $12,841,368 in the last 90 days. Insiders own 3.20% of the company's stock.

Salesforce Price Performance

CRM stock opened at $287.03 on Tuesday. The company has a market capitalization of $275.95 billion, a P/E ratio of 47.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business has a 50-day simple moving average of $268.15 and a two-hundred day simple moving average of $307.16.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRM shares. Westpark Capital reissued a "buy" rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Scotiabank lowered 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. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group lowered their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $352.62.

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.