Rockefeller Capital Management L.P. Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

Rockefeller Capital Management L.P. reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 539,417 shares of the CRM provider's stock after selling 31,131 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.06% of Salesforce worth $180,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in Salesforce in the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the fourth quarter worth $1,173,564,000. Invesco Ltd. raised its position in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. Jennison Associates LLC boosted its stake in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the period. Finally, Swedbank AB grew its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie restated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Wedbush reiterated an "outperform" rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Loop Capital cut their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. One equities research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $360.76.

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Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company's stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 0.4 %

Salesforce stock traded down $0.96 during midday trading on Monday, hitting $254.04. 6,037,638 shares of the company's stock were exchanged, compared to its average volume of 6,820,881. The firm has a 50-day moving average of $289.29 and a two-hundred day moving average of $310.70. 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 company has a market cap of $244.13 billion, a PE ratio of 41.78, a P/E/G 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.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders 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 an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. Salesforce's payout ratio is currently 26.10%.

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.