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

Soros Fund Management LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 90.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 297,420 shares of the CRM provider’s stock after acquiring an additional 141,016 shares during the period. Salesforce comprises about 1.5% of Soros Fund Management LLC’s holdings, making the stock its 16th largest holding. Soros Fund Management LLC’s holdings in Salesforce were worth $99,436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter worth about $25,000. Arlington Trust Co LLC grew its stake 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 during the period. Compass Financial Services Inc purchased a new position in Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in Salesforce in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRM shares. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Jefferies Financial Group lowered their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price objective on the stock. Finally, Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $351.37.

Insider Buying and Selling

In other news, insider Miguel Milano sold 458 shares of the company’s 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 owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the sale, the chief accounting officer now directly owns 12,211 shares in the company, valued at $3,097,442.26. The trade was a 11.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,051 shares of company stock worth $15,027,714. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $265.61 on Tuesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 company has a market cap of $255.35 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company’s fifty day moving average is $272.58 and its two-hundred day moving average is $308.39.

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. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio is currently 26.10%.

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.