Salesforce, Inc. (NYSE:CRM) Stock Position Decreased by Fmr LLC

Fmr LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,197,304 shares of the CRM provider’s stock after selling 2,947,583 shares during the period. Salesforce makes up about 0.5% of Fmr LLC’s holdings, making the stock its 26th biggest position. Fmr LLC owned 2.42% of Salesforce worth $7,755,555,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Arlington Trust Co LLC increased its position 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 worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter valued at about $31,000. Collier Financial acquired a new position in shares of Salesforce in the 4th quarter valued at about $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRM shares. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Jefferies Financial Group cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Stock Down 5.9 %

Shares of Salesforce stock opened at $240.26 on Friday. The company has a market capitalization of $230.89 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business has a 50-day moving average of $302.46 and a two-hundred day moving average of $311.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction on Thursday, April 3rd. The shares were purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now directly owns 11,843 shares in the company, valued at $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 652 shares of the firm’s 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 $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

About Salesforce

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.