Cladis Investment Advisory LLC Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

Cladis Investment Advisory LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 800 shares of the CRM provider’s stock after selling 163 shares during the period. Cladis Investment Advisory LLC’s holdings in Salesforce were worth $219,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake in shares of Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares during the period. Legal & General Group Plc grew its position in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after acquiring an additional 96,381 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Salesforce by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after purchasing an additional 877,495 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock valued at $42,475,538 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Canaccord Genuity Group upped their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Truist Financial raised their target price on shares of Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Finally, Bank of America boosted their target price on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $343.89.

Salesforce Stock Performance

Salesforce stock opened at $329.99 on Monday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The company’s 50-day moving average is $302.12 and its 200 day moving average is $270.49. The firm has a market capitalization of $315.47 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

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.