Soma Equity Partners LP Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Soma Equity Partners LP trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,902 shares of the CRM provider’s stock after selling 14,329 shares during the quarter. Salesforce comprises 6.2% of Soma Equity Partners LP’s portfolio, making the stock its 6th largest holding. Soma Equity Partners LP’s holdings in Salesforce were worth $112,302,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc acquired a new position in Salesforce during the fourth quarter worth about $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 0.1%

Salesforce stock opened at $290.48 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s fifty day moving average price is $267.83 and its two-hundred day moving average price is $307.08. The company has a market capitalization of $279.26 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stephens started coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Westpark Capital restated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $352.62.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 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 value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,527 shares of company stock valued at $14,882,976. Corporate 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.