Salesforce, Inc. (NYSE:CRM) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,911 shares of the CRM provider's stock after selling 25,824 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Salesforce were worth $32,400,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Geode Capital Management LLC increased its stake in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after buying an additional 177,321 shares in the last quarter. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth approximately $3,599,867,000. Invesco Ltd. lifted its position in shares of Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Salesforce by 10.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock valued at $2,204,336,000 after acquiring an additional 628,593 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRM. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Guggenheim reaffirmed a "sell" rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Finally, Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $360.32.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce 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 owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 in the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Salesforce stock opened at $246.93 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company's 50 day moving average is $281.23 and its two-hundred day moving average is $309.39.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend 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 yield of 0.68%. Salesforce's dividend payout ratio (DPR) is 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.

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