Mission Creek Capital Partners Inc. Trims Holdings in Salesforce, Inc. (NYSE:CRM)

Mission Creek Capital Partners Inc. reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,320 shares of the CRM provider’s stock after selling 576 shares during the period. Mission Creek Capital Partners Inc.’s holdings in Salesforce were worth $2,781,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CRM. Geode Capital Management LLC grew its holdings 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 buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Norges Bank acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $3,599,867,000. Price T Rowe Associates Inc. MD raised its stake 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 during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 4,586 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $1,163,284.76. Following the completion of the sale, the insider now directly owns 33,273 shares in the company, valued at $8,440,029.18. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,051 shares of company stock valued at $15,027,714. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. DA Davidson reaffirmed an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Finally, Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $351.37.

Salesforce Stock Up 1.2 %

Shares of CRM opened at $267.87 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company’s fifty day moving average is $273.75 and its two-hundred day moving average is $308.41. The firm has a market cap of $257.42 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 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.