HighVista Strategies LLC Has $4.54 Million Stake in Salesforce, Inc. (NYSE:CRM)

HighVista Strategies LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 21.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,585 shares of the CRM provider’s stock after selling 4,600 shares during the quarter. Salesforce comprises 1.6% of HighVista Strategies LLC’s holdings, making the stock its 6th biggest position. HighVista Strategies LLC’s holdings in Salesforce were worth $4,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC lifted its holdings in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. AIA Group Ltd boosted its position in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. Transamerica Financial Advisors Inc. acquired a new stake in shares of Salesforce in the third quarter worth $3,672,000. Finally, Harvest Portfolios Group Inc. increased its position in Salesforce by 13.6% during the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after acquiring an additional 10,656 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. DA Davidson increased their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their price objective on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital boosted their price target on Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.89.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,982 shares of company stock valued at $41,591,457 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.3 %

Shares of NYSE:CRM opened at $330.82 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $316.26 billion, a P/E ratio of 57.53, a P/E/G ratio of 2.99 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company’s 50-day moving average price is $302.12 and its two-hundred day moving average price is $270.49.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

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.