Soros Fund Management LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Soros Fund Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 90.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,420 shares of the CRM provider's stock after purchasing an additional 141,016 shares during the quarter. Salesforce makes up approximately 1.5% of Soros Fund Management LLC's investment portfolio, making the stock its 16th largest position. Soros Fund Management LLC's holdings in Salesforce were worth $99,436,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRM. Nvest Financial LLC boosted its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC boosted its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Up 0.3 %

Shares of CRM stock traded up $0.70 during trading hours on Wednesday, hitting $268.46. The company had a trading volume of 4,610,632 shares, compared to its average volume of 6,812,489. The company's fifty day moving average is $270.74 and its 200 day moving average is $307.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $258.09 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Robert W. Baird lowered their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Citigroup reiterated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Wells Fargo & Company decreased their target price on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald assumed coverage on Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $350.56.

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.