Ellevest Inc. Sells 1,371 Shares of Salesforce, Inc. (NYSE:CRM)

Ellevest Inc. lowered its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,982 shares of the CRM provider's stock after selling 1,371 shares during the period. Ellevest Inc.'s holdings in Salesforce were worth $2,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth $31,000. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $15,342,415. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly 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. Insiders sold 45,830 shares of company stock valued at $12,907,361 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 4.8%

Shares of NYSE CRM traded up $13.20 on Monday, reaching $288.62. 5,934,826 shares of the company traded hands, compared to its average volume of 6,844,292. The company has a 50 day moving average of $267.33 and a 200 day moving average of $307.36. The stock has a market capitalization of $277.48 billion, a PE ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRM shares. Wells Fargo & Company reduced their price target 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. Morgan Stanley reduced their price target on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson reissued an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Monday, April 21st. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. One research 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. Based on data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $350.56.

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.