California Public Employees Retirement System Sells 68,944 Shares of Salesforce, Inc. (NYSE:CRM)

California Public Employees Retirement System trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,134,897 shares of the CRM provider’s stock after selling 68,944 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Salesforce worth $713,760,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. Collier Financial bought a new position in Salesforce in the fourth quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares of the company’s stock, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the transaction, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $270.04 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $309.39 and a 200-day moving average price of $311.13. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $259.51 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35.

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 represents a $1.68 annualized dividend and a yield of 0.62%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. DA Davidson lowered their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group cut their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim reissued a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

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.