Bridgeway Capital Management LLC Has $1.50 Million Stake in Salesforce, Inc. (NYSE:CRM)

Bridgeway Capital Management LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 65.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,500 shares of the CRM provider's stock after selling 8,400 shares during the period. Bridgeway Capital Management LLC's holdings in Salesforce were worth $1,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce in the fourth quarter worth $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at $4,321,000. Jag Capital Management LLC grew its position in Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after acquiring an additional 22,797 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Salesforce during the fourth quarter worth $2,861,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This trade represents a 16.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 1.6 %

Shares of Salesforce stock traded down $4.36 during trading on Friday, hitting $275.38. 4,322,783 shares of the stock traded hands, compared to its average volume of 6,847,947. 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 stock has a market cap of $264.75 billion, a P/E ratio of 45.29, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a fifty day moving average price of $267.33 and a two-hundred day moving average price of $307.36.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price objective on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Friday, April 25th. Wells Fargo & Company cut their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Macquarie reiterated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $350.56.

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.