Salesforce, Inc. (NYSE:CRM) Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,347 shares of the CRM provider’s stock after selling 54 shares during the quarter. Studio Investment Management LLC’s holdings in Salesforce were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. Geode Capital Management LLC grew its stake in Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC grew its stake in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Northern Trust Corp grew its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. Norges Bank bought a new position in Salesforce during the 4th quarter worth $3,599,867,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after buying an additional 1,683,233 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of CRM stock opened at $291.00 on Friday. The stock has a 50 day moving average of $268.10 and a two-hundred day moving average of $307.03. The company has a current ratio of 1.11, a quick 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 company has a market capitalization of $279.76 billion, a P/E ratio of 47.86, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

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

Insiders Place Their Bets

In related news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares of the company’s stock, valued at $12,219,490. This trade represents a 13.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,527 shares of company stock worth $14,882,976. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent research reports. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Mizuho decreased their price target on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. DA Davidson reaffirmed an “underperform” rating and set a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. Finally, Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $352.62.

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.