Capital International Inc. CA Sells 8,364 Shares of Salesforce, Inc. (NYSE:CRM)

Capital International Inc. CA cut its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,152 shares of the CRM provider's stock after selling 8,364 shares during the quarter. Salesforce accounts for about 0.9% of Capital International Inc. CA's investment portfolio, making the stock its 28th largest holding. Capital International Inc. CA's holdings in Salesforce were worth $73,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CRM. M&T Bank Corp lifted its holdings in Salesforce by 5.5% in the third quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider's stock valued at $52,912,000 after acquiring an additional 10,084 shares during the period. Invst LLC increased its position in shares of Salesforce by 4.2% during the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider's stock valued at $4,654,000 after purchasing an additional 685 shares during the last quarter. Passumpsic Savings Bank lifted its stake in shares of Salesforce by 1.2% in the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider's stock worth $2,007,000 after purchasing an additional 87 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock worth $1,174,000 after buying an additional 581 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its position in Salesforce by 14.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider's stock valued at $1,930,000 after buying an additional 866 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.2 %

Shares of NYSE CRM opened at $246.93 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a 50-day simple moving average of $281.23 and a two-hundred day simple moving average of $309.39. The company has a market cap of $237.30 billion, a P/E ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRM. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. 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 research report on Thursday, February 27th. Jefferies Financial Group reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Stephens initiated coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $360.32.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 652 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was 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 in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's 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 approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock worth $14,124,094 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.

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