Salesforce, Inc. (NYSE:CRM) Stock Position Reduced by CastleKnight Management LP

CastleKnight Management LP lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 56.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,400 shares of the CRM provider's stock after selling 3,100 shares during the quarter. CastleKnight Management LP's holdings in Salesforce were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $12,907,361 over the last ninety days. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. 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. Wells Fargo & Company cut their price objective on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup restated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Stock Performance

CRM stock traded down $4.36 during trading on Friday, hitting $275.38. 4,322,783 shares of the company's stock traded hands, compared to its average volume of 6,832,204. The stock has a fifty day moving average price of $267.57 and a two-hundred day moving average price of $307.15. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.61%. Salesforce's dividend 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.