Lighthouse Investment Partners LLC Has $20.64 Million Stake in Salesforce, Inc. (NYSE:CRM)

Lighthouse Investment Partners LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,722 shares of the CRM provider's stock after selling 5,663 shares during the period. Salesforce comprises about 0.7% of Lighthouse Investment Partners LLC's holdings, making the stock its 28th biggest position. Lighthouse Investment Partners LLC's holdings in Salesforce were worth $20,636,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter valued at $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter valued at $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $0.36 during trading on Tuesday, reaching $289.18. The stock had a trading volume of 6,708,467 shares, compared to its average volume of 6,859,158. The stock has a fifty day simple moving average of $267.33 and a two-hundred day simple moving average of $307.23. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $278.01 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Salesforce in a report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price objective on the stock. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Scotiabank cut their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a report on Friday, April 25th. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. One 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $350.56.

Insider Buying and Selling

In related news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at $1,805,936.08. This trade represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at $3,220,525. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company's stock.

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.