Capital Research Global Investors Lowers Position in Salesforce, Inc. (NYSE:CRM)

Capital Research Global Investors lowered its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,116,635 shares of the CRM provider's stock after selling 233,439 shares during the quarter. Salesforce accounts for 1.7% of Capital Research Global Investors' investment portfolio, making the stock its 11th largest holding. Capital Research Global Investors owned 2.52% of Salesforce worth $8,062,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nvest Financial LLC boosted its position in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD increased its holdings in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC raised its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $360.32.

Insiders Place Their Bets

In other news, insider Parker Harris sold 652 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,654 shares of company stock worth $14,124,094. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $246.93 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $281.23 and a two-hundred day simple moving average of $309.39.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.68%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

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.

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