Jasper Ridge Partners L.P. Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

Jasper Ridge Partners L.P. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,894 shares of the CRM provider's stock after selling 2,209 shares during the period. Salesforce accounts for 0.5% of Jasper Ridge Partners L.P.'s portfolio, making the stock its 23rd biggest position. Jasper Ridge Partners L.P.'s holdings in Salesforce were worth $17,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce during the 4th quarter valued at $236,000. Highland Capital Management LLC purchased a new position in Salesforce in the fourth quarter valued at about $4,321,000. Jag Capital Management LLC increased its holdings in Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after buying an additional 22,797 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Salesforce in the fourth quarter worth about $2,861,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRM shares. Scotiabank cut their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Bank of America lowered their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. DA Davidson reissued an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Macquarie reiterated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Finally, Morgan Stanley reduced their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $350.56.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 directly owns 46,750 shares of the company's stock, valued at $15,342,415. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,830 shares of company stock worth $12,907,361. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 1.0%

Shares of NYSE CRM traded up $2.79 on Tuesday, reaching $291.61. 1,220,359 shares of the company's stock traded hands, compared to its average volume of 6,823,186. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business's 50 day simple moving average is $267.27 and its two-hundred day simple moving average is $307.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $280.35 billion, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.58%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 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.