Salesforce, Inc. (NYSE:CRM) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 96,911 shares of the CRM provider’s stock after selling 25,824 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Salesforce were worth $32,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Athena Investment Management purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $236,000. Highland Capital Management LLC purchased a new position in Salesforce in the fourth quarter worth $4,321,000. Nordea Investment Management AB grew its position in Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after buying an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC lifted its position in shares of Salesforce by 14.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after acquiring an additional 1,936 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRM. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Bank of America lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Wells Fargo & Company cut their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.32.

Salesforce Stock Down 1.2 %

Shares of Salesforce stock opened at $246.93 on Friday. The company has a quick ratio of 1.11, a current 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 market capitalization of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock’s fifty day moving average is $281.23 and its 200-day moving average is $309.39.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 652 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,654 shares of company stock worth $14,124,094. 3.20% of the stock is owned by corporate insiders.

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.