OneDigital Investment Advisors LLC Cuts Stake in Salesforce, Inc. (NYSE:CRM)

OneDigital Investment Advisors LLC trimmed its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,441 shares of the CRM provider's stock after selling 3,107 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Salesforce were worth $15,527,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Invst LLC raised 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 worth $4,654,000 after acquiring an additional 685 shares in the last quarter. Passumpsic Savings Bank grew its position 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 valued at $2,007,000 after buying an additional 87 shares during the last quarter. Anchor Investment Management LLC raised its stake in Salesforce by 15.7% during the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock worth $1,174,000 after acquiring an additional 581 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its position in Salesforce by 14.0% in 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 acquiring an additional 866 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in Salesforce by 570.4% in the third quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider's stock valued at $14,903,000 after acquiring an additional 46,324 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock traded up $3.48 during mid-day trading on Friday, reaching $268.18. The stock had a trading volume of 3,155,282 shares, compared to its average volume of 6,794,440. 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 50-day simple moving average of $274.96 and a 200 day simple moving average of $308.44. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $257.72 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company's stock, valued at $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,051 shares of company stock worth $15,027,714 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday. Finally, Citigroup reissued a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $351.37.

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.