Wellington Management Group LLP Sells 337,414 Shares of Salesforce, Inc. (NYSE:CRM)

Wellington Management Group LLP reduced its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,369,826 shares of the CRM provider's stock after selling 337,414 shares during the quarter. Wellington Management Group LLP owned 0.87% of Salesforce worth $2,798,284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Nvest Financial LLC increased its stake in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC raised its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

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Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Macquarie reiterated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target for the company. Stifel Nicolaus dropped their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, KeyCorp raised Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. One 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 given a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce 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 transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Millham sold 3,937 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Salesforce stock traded down $13.59 during trading on Thursday, hitting $257.95. The stock had a trading volume of 3,435,528 shares, compared to its average volume of 6,643,925. The stock's 50 day moving average is $305.91 and its two-hundred day moving average is $311.50. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $247.89 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend 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.