Xn LP Sells 69,513 Shares of Salesforce, Inc. (NYSE:CRM)

Xn LP lowered its stake in Salesforce, Inc. (NYSE:CRM) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 448,389 shares of the CRM provider’s stock after selling 69,513 shares during the quarter. Salesforce comprises about 5.9% of Xn LP’s portfolio, making the stock its 7th biggest holding. Xn LP’s holdings in Salesforce were worth $149,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Northern Trust Corp lifted its position in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. Norges Bank acquired a new stake in shares of Salesforce during the fourth quarter worth about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Macquarie reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Canaccord Genuity Group reduced their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $352.62.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 3,273 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $931,430.34. Following the sale, the insider now directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. The trade was a 2.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,306 shares of company stock worth $12,841,368 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $287.03 on Tuesday. The firm’s fifty day moving average price is $268.15 and its 200 day moving average price is $307.16. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm 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.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. 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%.

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.