Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Grantham Mayo Van Otterloo & Co. LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,222,913 shares of the CRM provider’s stock after selling 35,400 shares during the quarter. Salesforce accounts for approximately 2.4% of Grantham Mayo Van Otterloo & Co. LLC’s investment portfolio, making the stock its 12th largest position. Grantham Mayo Van Otterloo & Co. LLC owned 0.23% of Salesforce worth $743,186,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Katamaran Capital LLP bought a new stake in shares of Salesforce in the 4th quarter worth about $3,681,000. Dynamic Technology Lab Private Ltd purchased a new stake in Salesforce in the 4th quarter worth about $512,000. Aviva PLC lifted its stake in Salesforce by 1.0% in the fourth quarter. Aviva PLC now owns 578,218 shares of the CRM provider’s stock worth $193,316,000 after purchasing an additional 5,787 shares during the last quarter. Hel Ved Capital Management Ltd grew its stake in shares of Salesforce by 25.9% during the fourth quarter. Hel Ved Capital Management Ltd now owns 8,050 shares of the CRM provider’s stock valued at $2,691,000 after buying an additional 1,655 shares during the last quarter. Finally, Dempze Nancy E purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $391,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 5.9 %

NYSE:CRM opened at $240.26 on Friday. The company has a market capitalization of $230.89 billion, a P/E ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a fifty day simple moving average of $302.46 and a 200-day simple moving average of $311.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is presently 26.10%.

Analysts Set New Price Targets

Several brokerages have commented on CRM. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Macquarie restated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

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.