Salesforce, Inc. (NYSE:CRM) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 73.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,435,357 shares of the CRM provider's stock after selling 3,937,212 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.15% of Salesforce worth $479,883,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CRM. Geode Capital Management LLC raised its stake in 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 during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $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 in the fourth quarter valued at approximately $3,599,867,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after buying an additional 1,683,233 shares during the period. Finally, Invesco Ltd. boosted its position in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $3.17 during trading on Friday, reaching $267.87. 5,649,322 shares of the company's stock traded hands, compared to its average volume of 6,811,847. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average of $274.96 and a 200-day moving average of $308.44. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $257.42 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the transaction, the chief accounting officer now owns 12,211 shares of the company's stock, valued at approximately $3,097,442.26. This trade represents a 11.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,051 shares of company stock worth $15,027,714 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Jefferies Financial Group cut their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. Bank of America reduced their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday. Finally, Cantor Fitzgerald started coverage on shares of Salesforce in a research report on Wednesday. They set an "overweight" rating and a $210.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $351.37.

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.