Capital World Investors Sells 2,949,138 Shares of Salesforce, Inc. (NYSE:CRM)

Capital World Investors lessened its stake in Salesforce, Inc. (NYSE:CRM) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,989,963 shares of the CRM provider’s stock after selling 2,949,138 shares during the period. Capital World Investors owned approximately 0.94% of Salesforce worth $3,005,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp increased its stake in shares of Salesforce by 5.5% in the 3rd quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider’s stock worth $52,912,000 after purchasing an additional 10,084 shares in the last quarter. Invst LLC raised its position in shares of Salesforce by 4.2% during the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after purchasing an additional 685 shares during the period. Passumpsic Savings Bank lifted its stake in shares of Salesforce by 1.2% during the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after buying an additional 87 shares in the last quarter. Anchor Investment Management LLC increased its stake in Salesforce by 15.7% in the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after buying an additional 581 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in shares of Salesforce by 14.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock valued at $1,930,000 after acquiring an additional 866 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM opened at $246.93 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $281.23 and its 200 day moving average price is $309.39. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $237.30 billion, a PE ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $360.32.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 in the last three months. 3.20% of the stock is currently owned by insiders.

About Salesforce

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.