Orion Capital Management LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Orion Capital Management LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,813 shares of the CRM provider’s stock after selling 81 shares during the period. Orion Capital Management LLC’s holdings in Salesforce were worth $1,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CRM. Foundations Investment Advisors LLC lifted its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Athena Investment Management bought a new stake in shares of Salesforce during the fourth quarter valued at about $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth about $4,321,000. Jag Capital Management LLC boosted its position in shares of Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock valued at $7,926,000 after acquiring an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $2,861,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.0%

Shares of Salesforce stock opened at $287.64 on Wednesday. The company’s 50 day moving average price is $268.48 and its 200-day moving average price is $307.02. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $276.53 billion, a price-to-earnings 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 disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s payout ratio is presently 26.10%.

Insider Activity

In other news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,306 shares of company stock valued at $12,841,368. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Mizuho dropped their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $352.62.

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.