Nan Shan Life Insurance Co. Ltd. Cuts Position in Salesforce, Inc. (NYSE:CRM)

Nan Shan Life Insurance Co. Ltd. lowered its position in Salesforce, Inc. (NYSE:CRM) by 94.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,764 shares of the CRM provider’s stock after selling 143,655 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Salesforce were worth $2,596,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce during the fourth quarter worth about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE:CRM opened at $289.18 on Wednesday. The firm has a 50-day moving average of $267.33 and a two-hundred day moving average of $307.23. 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 market cap of $278.01 billion, a P/E ratio of 47.56, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock valued at $12,907,361 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRM shares. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Scotiabank reduced their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.56.

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.