Salesforce, Inc. (NYSE:CRM) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,484,542 shares of the CRM provider's stock after selling 66,503 shares during the quarter. Salesforce accounts for 0.6% of California State Teachers Retirement System's holdings, making the stock its 23rd largest holding. California State Teachers Retirement System owned approximately 0.15% of Salesforce worth $496,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Foundations Investment Advisors LLC increased its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Athena Investment Management acquired a new stake in Salesforce in the fourth quarter valued at approximately $236,000. Highland Capital Management LLC acquired a new position in Salesforce during the 4th quarter worth approximately $4,321,000. Nordea Investment Management AB increased its position in shares of Salesforce by 11.9% in the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock valued at $766,566,000 after purchasing an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in shares of Salesforce by 14.1% in the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock valued at $5,252,000 after purchasing an additional 1,936 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other news, insider R David Schmaier sold 4,586 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $1,163,284.76. Following the transaction, the insider now directly owns 33,273 shares in the company, valued at $8,440,029.18. This represents a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRM. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group decreased their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company dropped their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Westpark Capital restated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday. Finally, Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $350.56.

Salesforce Price Performance

Salesforce stock traded up $0.70 during trading hours on Wednesday, hitting $268.46. The stock had a trading volume of 4,610,632 shares, compared to its average volume of 6,812,489. The stock has a market capitalization of $258.09 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock's fifty day moving average is $271.56 and its two-hundred day moving average is $308.10.

Salesforce Increases Dividend

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