Lighthouse Investment Partners LLC Sells 5,663 Shares of Salesforce, Inc. (NYSE:CRM)

Lighthouse Investment Partners LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,722 shares of the CRM provider’s stock after selling 5,663 shares during the quarter. Salesforce accounts for 0.7% of Lighthouse Investment Partners LLC’s holdings, making the stock its 28th largest holding. Lighthouse Investment Partners LLC’s holdings in Salesforce were worth $20,636,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Lightspeed Management Company L.L.C. purchased a new stake in shares of Salesforce in the 4th quarter worth $414,000. Lionshead Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth $593,000. Investment Management Corp of Ontario lifted its holdings in shares of Salesforce by 6.4% in the 4th quarter. Investment Management Corp of Ontario now owns 48,238 shares of the CRM provider’s stock worth $16,127,000 after buying an additional 2,890 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Salesforce by 7.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,576,104 shares of the CRM provider’s stock worth $861,372,000 after buying an additional 169,075 shares during the period. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Salesforce by 72.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 38,441 shares of the CRM provider’s stock worth $12,852,000 after buying an additional 16,092 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.6%

Shares of CRM stock opened at $275.38 on Monday. The stock’s 50-day simple moving average is $267.33 and its 200-day simple moving average is $307.36. 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 firm has a market capitalization of $264.75 billion, a PE ratio of 45.29, a P/E/G ratio of 2.58 and a beta of 1.42. 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 announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.61%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the sale, the chief accounting officer now directly owns 11,711 shares in the company, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock valued at $12,907,361 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRM shares. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Robert W. Baird decreased their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price objective on Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $350.56.

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.