Farallon Capital Management LLC Sells 834,800 Shares of Salesforce, Inc. (NYSE:CRM)

Farallon Capital Management LLC decreased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 40.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,210,138 shares of the CRM provider's stock after selling 834,800 shares during the period. Salesforce accounts for 2.1% of Farallon Capital Management LLC's investment portfolio, making the stock its 16th biggest holding. Farallon Capital Management LLC owned approximately 0.13% of Salesforce worth $404,585,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CRM. Regent Peak Wealth Advisors LLC lifted its position in Salesforce by 3.6% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock valued at $818,000 after acquiring an additional 84 shares in the last quarter. Fortitude Family Office LLC grew its stake in Salesforce by 2.2% in the 4th quarter. Fortitude Family Office LLC now owns 2,603 shares of the CRM provider's stock valued at $870,000 after buying an additional 55 shares during the last quarter. Baker Tilly Wealth Management LLC grew its stake in Salesforce by 5.2% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 4,201 shares of the CRM provider's stock valued at $1,405,000 after buying an additional 208 shares during the last quarter. ORG Partners LLC grew its position in shares of Salesforce by 5.4% during the 4th quarter. ORG Partners LLC now owns 3,692 shares of the CRM provider's stock worth $1,235,000 after purchasing an additional 189 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its position in shares of Salesforce by 0.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 22,676 shares of the CRM provider's stock worth $7,581,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 4.8%

Shares of CRM traded up $13.20 during trading hours on Monday, reaching $288.62. The stock had a trading volume of 5,934,194 shares, compared to its average volume of 6,844,290. The firm has a 50-day moving average of $267.33 and a 200 day moving average of $307.36. The company has a market cap of $277.48 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42. 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.

Salesforce Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald began coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price objective for the company. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating for the company. Westpark Capital reissued a "buy" rating and set a $320.00 price target on shares of Salesforce in a research report on Wednesday, April 30th. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Jefferies Financial Group 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 Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $350.56.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,711 shares in the company, valued at approximately $3,220,525. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is currently owned by insiders.

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.