Osterweis Capital Management Inc. Has $39.03 Million Stake in Salesforce, Inc. (NYSE:CRM)

Osterweis Capital Management Inc. raised its position in Salesforce, Inc. (NYSE:CRM) by 67.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,734 shares of the CRM provider’s stock after acquiring an additional 46,998 shares during the quarter. Salesforce makes up about 1.8% of Osterweis Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Osterweis Capital Management Inc.’s holdings in Salesforce were worth $39,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. acquired a new position in shares of Salesforce in the fourth quarter valued at $1,173,564,000. Invesco Ltd. raised its position in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. Jennison Associates LLC lifted its stake in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,439 shares of company stock worth $12,043,153. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Bank of America decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $360.32.

Salesforce Stock Down 2.1 %

CRM opened at $249.50 on Thursday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $284.38 and its 200 day moving average is $309.74. The firm has a market capitalization of $239.77 billion, a P/E ratio of 41.04, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

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.