Mar Vista Investment Partners LLC Has $64.35 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Mar Vista Investment Partners LLC decreased its stake in Salesforce, Inc. (NYSE:CRM) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,479 shares of the CRM provider’s stock after selling 10,893 shares during the quarter. Salesforce makes up 4.4% of Mar Vista Investment Partners LLC’s portfolio, making the stock its 5th biggest holding. Mar Vista Investment Partners LLC’s holdings in Salesforce were worth $64,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Nvest Financial LLC boosted its holdings 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 buying an additional 31 shares in the last quarter. OMC Financial Services LTD lifted its position in shares of Salesforce by 0.3% during 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 period. Capital Advisors Ltd. LLC boosted its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC grew its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its stake in 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 purchasing an additional 32 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,654 shares of company stock worth $14,124,094 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 2.9 %

CRM opened at $243.10 on Wednesday. The firm’s 50 day moving average is $277.69 and its 200-day moving average is $308.98. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week 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 firm has a market capitalization of $233.62 billion, a P/E ratio of 39.98, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.69%. Salesforce’s payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Macquarie reissued a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.49.

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.