Salesforce, Inc. (NYSE:CRM) is Whale Rock Capital Management LLC’s 8th Largest Position

Whale Rock Capital Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 264.5% in the fourth quarter, Holdings Channel reports. The firm owned 826,614 shares of the CRM provider’s stock after purchasing an additional 599,849 shares during the period. Salesforce makes up about 3.3% of Whale Rock Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Whale Rock Capital Management LLC’s holdings in Salesforce were worth $276,362,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $27,000. Arlington Trust Co LLC grew its holdings 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 worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $287.03 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $275.95 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a 50-day moving average price of $268.15 and a two-hundred day moving average price of $307.16.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio is 26.10%.

Analyst Ratings Changes

Several research firms recently commented on CRM. Cantor Fitzgerald began coverage on Salesforce in a research report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price target on the stock. Morgan Stanley reduced their price target on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Stephens began coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group reduced their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $352.62.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 46,306 shares of company stock worth $12,841,368. Insiders own 3.20% of the company’s stock.

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.