Salesforce, Inc. (NYSE:CRM) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 33.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,125 shares of the CRM provider's stock after selling 15,800 shares during the period. APG Asset Management US Inc.'s holdings in Salesforce were worth $10,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CRM. Norges Bank bought a new position in shares of Salesforce in the 4th quarter worth $3,599,867,000. Raymond James Financial Inc. purchased a new position in Salesforce in the fourth quarter valued at about $1,173,564,000. Invesco Ltd. raised its holdings in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock valued at $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CRM shares. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wedbush reiterated an "outperform" rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Macquarie restated a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and raised their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

Remove Ads

Salesforce Price Performance

Shares of CRM stock traded down $0.14 during trading hours on Friday, hitting $254.98. 6,087,156 shares of the company's stock were exchanged, compared to its average volume of 6,824,013. The firm has a 50 day moving average of $289.29 and a two-hundred day moving average of $310.70. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market cap of $245.04 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.58 and a beta of 1.38. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders 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 0.66%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian Millham sold 708 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now directly owns 1,239 shares of the company's stock, valued at approximately $411,694.92. This represents a 36.36 % 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 over the last 90 days. 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.