Curi RMB Capital LLC Cuts Position in Salesforce, Inc. (NYSE:CRM)

Curi RMB Capital LLC cut its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,624 shares of the CRM provider's stock after selling 11,898 shares during the quarter. Salesforce accounts for 1.3% of Curi RMB Capital LLC's holdings, making the stock its 13th largest holding. Curi RMB Capital LLC's holdings in Salesforce were worth $55,039,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter worth about $25,000. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Down 1.2 %

CRM stock 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 company has a fifty day simple moving average of $281.23 and a 200 day simple moving average of $309.39. 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 firm has a market cap of $237.30 billion, a PE ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

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

Analyst Ratings Changes

CRM has been the topic of a number of research analyst reports. 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 research report on Monday, March 31st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and boosted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $360.32.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,256 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the sale, the chief accounting officer now owns 12,826 shares of the company's stock, valued at approximately $3,248,954.06. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,654 shares of company stock valued at $14,124,094. 3.20% of the stock is owned by company 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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