Gilder Gagnon Howe & Co. LLC Sells 4,405 Shares of Salesforce, Inc. (NYSE:CRM)

Gilder Gagnon Howe & Co. LLC trimmed its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 238,358 shares of the CRM provider's stock after selling 4,405 shares during the period. Gilder Gagnon Howe & Co. LLC's holdings in Salesforce were worth $79,690,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CRM. Invst LLC boosted its stake in shares of Salesforce by 4.2% in 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 holdings in Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider's stock valued at $2,007,000 after buying an additional 87 shares during the period. Anchor Investment Management LLC boosted its position in Salesforce by 15.7% during the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock valued at $1,174,000 after acquiring an additional 581 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in Salesforce by 14.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider's stock worth $1,930,000 after acquiring an additional 866 shares during the period. Finally, World Investment Advisors LLC raised its position in shares of Salesforce by 570.4% in the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider's stock worth $14,903,000 after acquiring an additional 46,324 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the sale, the chief accounting officer now owns 12,211 shares in the company, valued at $3,097,442.26. The trade was a 11.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock worth $15,027,714 in the last 90 days. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and raised their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Wells Fargo & Company dropped their price objective on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. One 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $351.37.

Salesforce Trading Up 1.2 %

CRM traded up $3.17 during trading on Friday, hitting $267.87. 5,649,322 shares of the stock traded hands, compared to its average volume of 6,824,128. The firm has a market capitalization of $257.42 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $273.75 and a 200 day moving average of $308.54.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

About Salesforce

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.