Nicollet Investment Management Inc. Trims Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Nicollet Investment Management Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,173 shares of the CRM provider’s stock after selling 70 shares during the period. Salesforce accounts for 1.7% of Nicollet Investment Management Inc.’s portfolio, making the stock its 19th biggest holding. Nicollet Investment Management Inc.’s holdings in Salesforce were worth $5,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. United Bank boosted its holdings in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after buying an additional 76 shares during the period. FSA Wealth Management LLC bought a new position in shares of Salesforce in the third quarter worth about $53,000. Kestra Investment Management LLC purchased a new stake in shares of Salesforce during the third quarter worth about $766,000. Benjamin Edwards Inc. raised its stake in Salesforce by 3,967.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 44,414 shares of the CRM provider’s stock valued at $12,157,000 after purchasing an additional 43,322 shares during the period. Finally, Arrowroot Family Office LLC lifted its holdings in Salesforce by 3.4% in the 3rd quarter. Arrowroot Family Office LLC now owns 4,694 shares of the CRM provider’s stock worth $1,285,000 after purchasing an additional 156 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRM shares. Barclays increased their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Citigroup reiterated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Price Performance

Shares of CRM opened at $268.05 on Tuesday. The stock has a market capitalization of $257.60 billion, a PE ratio of 44.09, a PEG ratio of 2.58 and a beta of 1.35. The company has a 50 day moving average price of $308.26 and a 200-day moving average price of $311.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred 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 of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by company insiders.

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.