Salesforce, Inc. (NYSE:CRM) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 22.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 82,793 shares of the CRM provider’s stock after selling 23,599 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Salesforce were worth $27,680,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Waverly Advisors LLC boosted its stake in Salesforce by 62.2% in the 4th quarter. Waverly Advisors LLC now owns 16,314 shares of the CRM provider’s stock worth $5,454,000 after buying an additional 6,258 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in Salesforce by 264.5% in the 4th quarter. Whale Rock Capital Management LLC now owns 826,614 shares of the CRM provider’s stock worth $276,362,000 after buying an additional 599,849 shares during the last quarter. Whelan Financial acquired a new position in shares of Salesforce in the 4th quarter valued at about $295,000. Williams Jones Wealth Management LLC. lifted its stake in shares of Salesforce by 4.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 2,507 shares of the CRM provider’s stock valued at $838,000 after purchasing an additional 117 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in shares of Salesforce by 19,437.4% in the 4th quarter. Woodline Partners LP now owns 169,780 shares of the CRM provider’s stock valued at $56,763,000 after purchasing an additional 168,911 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,306 shares of company stock worth $12,841,368. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

CRM stock opened at $287.64 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock’s 50 day moving average is $268.48 and its two-hundred day moving average is $307.02. The company has a market capitalization of $276.53 billion, a PE ratio of 47.31, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $352.62.

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.