Sora Investors LLC Has $18.72 Million Position in Salesforce, Inc. (NYSE:CRM)

Sora Investors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 86.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,001 shares of the CRM provider's stock after acquiring an additional 26,001 shares during the quarter. Salesforce comprises 2.1% of Sora Investors LLC's portfolio, making the stock its 18th biggest holding. Sora Investors LLC's holdings in Salesforce were worth $18,723,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRM. Nvest Financial LLC lifted its stake in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD lifted its stake in shares of Salesforce by 0.3% in 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 during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% in 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 during the last quarter. Sachetta LLC lifted its stake in shares of Salesforce by 0.3% in 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 during the last quarter. Finally, Prossimo Advisors LLC lifted its stake in shares of Salesforce by 1.0% in 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 during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 0.1%

CRM stock opened at $290.48 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $279.26 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The business's 50 day moving average price is $267.83 and its two-hundred day moving average price is $307.08. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

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

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction 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 trade represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,527 shares of company stock worth $14,882,976 in the last 90 days. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reissued a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. 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 note on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $352.62.

About Salesforce

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.

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