Salesforce, Inc. (NYSE:CRM) Stock Holdings Cut by Mariner LLC

Mariner LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 23.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 235,116 shares of the CRM provider’s stock after selling 71,171 shares during the period. Mariner LLC’s holdings in Salesforce were worth $78,607,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Down 0.4 %

Shares of CRM stock opened at $254.04 on Tuesday. The stock has a market cap of $244.13 billion, a P/E ratio of 41.78, 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 stock has a fifty day moving average price of $287.42 and a 200 day moving average price of $310.55. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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 $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change 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 research firms have recently issued reports on CRM. Piper Sandler restated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Scotiabank dropped their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $360.76.

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.