Teachers Retirement System of The State of Kentucky Sells 12,148 Shares of Salesforce, Inc. (NYSE:CRM)

Teachers Retirement System of The State of Kentucky decreased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,765 shares of the CRM provider's stock after selling 12,148 shares during the period. Salesforce accounts for approximately 0.5% of Teachers Retirement System of The State of Kentucky's portfolio, making the stock its 28th biggest holding. Teachers Retirement System of The State of Kentucky's holdings in Salesforce were worth $55,086,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

CRM has been the topic of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Morgan Stanley lowered their target price on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Monday. Finally, Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $358.97.

Salesforce Stock Down 4.5 %

Shares of CRM traded down $11.21 during mid-day trading on Monday, hitting $236.05. 8,850,833 shares of the company's stock were exchanged, compared to its average volume of 6,793,020. 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 twelve month low of $212.00 and a twelve month high of $369.00. The firm has a fifty day moving average of $279.43 and a two-hundred day moving average of $309.44. The stock has a market cap of $226.84 billion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were 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 in the company, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Company 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.