Canada Pension Plan Investment Board Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

Canada Pension Plan Investment Board decreased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,393,447 shares of the CRM provider's stock after selling 605,974 shares during the period. Canada Pension Plan Investment Board owned approximately 0.15% of Salesforce worth $465,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the fourth quarter valued at $25,000. Arlington Trust Co LLC boosted its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE CRM traded down $13.39 during midday trading on Monday, hitting $233.87. The company had a trading volume of 3,602,757 shares, compared to its average volume of 6,771,528. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $281.23 and a two-hundred day simple moving average of $309.80. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $224.75 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is currently 26.10%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business'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 $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 652 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now owns 121,467 shares of the company's stock, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRM shares. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and boosted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Jefferies Financial Group reduced their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Robert W. Baird reduced their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $358.97.

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.