Salesforce, Inc. (NYSE:CRM) Shares Sold by FIL Ltd

FIL Ltd decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 62.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,099,866 shares of the CRM provider’s stock after selling 1,836,189 shares during the period. FIL Ltd owned 0.11% of Salesforce worth $367,718,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nvest Financial LLC lifted its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD increased its position in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Oscar Munoz purchased 3,882 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now directly owns 11,843 shares in the company, valued at $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.4 %

CRM opened at $244.16 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market cap of $234.63 billion, a price-to-earnings ratio of 40.16, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 firm has a 50 day simple moving average of $300.39 and a 200 day simple moving average of $311.65.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CRM shares. Bank of America reduced their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Scotiabank dropped their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Finally, DA Davidson cut their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $361.42.

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.