Lone Pine Capital LLC Sells 772,637 Shares of Salesforce, Inc. (NYSE:CRM)

Lone Pine Capital LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 33.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,565,193 shares of the CRM provider’s stock after selling 772,637 shares during the quarter. Salesforce accounts for 3.9% of Lone Pine Capital LLC’s investment portfolio, making the stock its 13th largest position. Lone Pine Capital LLC owned approximately 0.16% of Salesforce worth $523,291,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Invst LLC raised its position in shares of Salesforce by 4.2% in the third quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after purchasing an additional 685 shares during the period. Passumpsic Savings Bank boosted its stake in shares of Salesforce by 1.2% in the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after purchasing an additional 87 shares in the last quarter. Anchor Investment Management LLC boosted its stake in shares of Salesforce by 15.7% in the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock valued at $1,174,000 after purchasing an additional 581 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Salesforce by 14.0% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock valued at $1,930,000 after purchasing an additional 866 shares in the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of Salesforce by 570.4% in the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock valued at $14,903,000 after purchasing an additional 46,324 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the business’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 sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,051 shares of company stock worth $15,027,714. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $267.87 on Monday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $257.42 billion, a P/E ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38. The company has a 50 day moving average of $273.75 and a 200 day moving average of $308.54. 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce’s payout ratio is currently 26.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CRM shares. Cantor Fitzgerald started coverage on shares of Salesforce in a research note on Wednesday. They issued an “overweight” rating and a $210.00 price objective for the company. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Finally, DA Davidson reiterated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $351.37.

Salesforce Company 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.