Salesforce, Inc. (NYSE:CRM) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. reduced its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 209,313 shares of the CRM provider's stock after selling 14,006 shares during the period. Pinebridge Investments L.P.'s holdings in Salesforce were worth $69,980,000 at the end of the most recent reporting period.

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

Salesforce Stock Performance

Shares of NYSE CRM traded up $3.17 during trading on Friday, reaching $267.87. The stock had a trading volume of 5,649,322 shares, compared to its average volume of 6,803,879. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $257.42 billion, a PE ratio of 44.06, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm's 50 day moving average price is $274.96 and its two-hundred day moving average price is $308.44.

Salesforce Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Friday. Macquarie restated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $351.37.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of the company's 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 completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,051 shares of company stock valued at $15,027,714. Company insiders own 3.20% of the company's stock.

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.