Salesforce, Inc. (NYSE:CRM) Stock Holdings Lowered by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,202,484 shares of the CRM provider's stock after selling 49,228 shares during the period. Salesforce accounts for about 0.6% of Prudential Financial Inc.'s holdings, making the stock its 28th biggest position. Prudential Financial Inc. owned about 0.13% of Salesforce worth $402,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. United Bank increased its position in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider's stock worth $1,999,000 after purchasing an additional 76 shares during the last quarter. Nwam LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth $1,152,000. Penserra Capital Management LLC raised its position in shares of Salesforce by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider's stock worth $2,415,000 after buying an additional 105 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its holdings in Salesforce by 3.2% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 30,500 shares of the CRM provider's stock valued at $8,348,000 after acquiring an additional 945 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its position in Salesforce by 35.9% during the third quarter. Sompo Asset Management Co. Ltd. now owns 36,432 shares of the CRM provider's stock valued at $9,972,000 after acquiring an additional 9,622 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

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Salesforce Stock Performance

Shares of NYSE:CRM traded down $3.11 during trading hours on Thursday, hitting $277.88. The stock had a trading volume of 3,755,356 shares, compared to its average volume of 6,389,262. The stock's fifty day simple moving average is $310.49 and its 200 day simple moving average is $310.51. The firm has a market capitalization of $267.04 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.60%. Salesforce's dividend payout ratio (DPR) is currently 25.16%.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Loop Capital reduced their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. increased their price target on Salesforce from $340.00 to $380.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. 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 reiterated an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company's stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company's stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last quarter. Corporate 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.