Caisse DE Depot ET Placement DU Quebec Sells 546,129 Shares of Salesforce, Inc. (NYSE:CRM)

Caisse DE Depot ET Placement DU Quebec decreased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 760,864 shares of the CRM provider's stock after selling 546,129 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.08% of Salesforce worth $254,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Salesforce in the fourth quarter worth $3,599,867,000. Raymond James Financial Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at about $1,173,564,000. Invesco Ltd. increased its stake 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 valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Northern Trust Corp raised its position in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares during the period. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other Salesforce news, CEO Brian Millham sold 979 shares of the company'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 $248,333.14. Following the sale, the chief executive officer now directly owns 6,487 shares of the company's stock, valued at $1,645,492.42. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company's stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and raised their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Canaccord Genuity Group dropped their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on Salesforce in a report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price target for the company. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Macquarie reaffirmed a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $350.56.

Salesforce Stock Performance

CRM traded up $5.88 during trading on Friday, hitting $275.21. 4,323,233 shares of the company traded hands, compared to its average volume of 6,820,139. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock's fifty day moving average is $269.34 and its 200 day moving average is $307.58. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $264.58 billion, a P/E ratio of 45.26, 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 paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

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.