Salesforce, Inc. (NYSE:CRM) Shares Sold by DnB Asset Management AS

DnB Asset Management AS decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 536,037 shares of the CRM provider’s stock after selling 158,404 shares during the quarter. Salesforce comprises about 0.8% of DnB Asset Management AS’s portfolio, making the stock its 22nd biggest holding. DnB Asset Management AS owned approximately 0.06% of Salesforce worth $179,213,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC increased its holdings in shares of 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc acquired a new position in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter worth $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DA Davidson cut their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.1 %

Shares of Salesforce stock opened at $277.88 on Friday. The firm has a market cap of $267.04 billion, a PE ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business’s fifty day moving average is $310.49 and its two-hundred day moving average is $310.51.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is currently 25.16%.

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.