Salesforce, Inc. (NYSE:CRM) Stock Position Lessened by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,835 shares of the CRM provider's stock after selling 6,445 shares during the quarter. Salesforce accounts for about 3.3% of EDENTREE ASSET MANAGEMENT Ltd's holdings, making the stock its 4th biggest holding. EDENTREE ASSET MANAGEMENT Ltd's holdings in Salesforce were worth $11,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% in 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 in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Bank of America lowered their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald assumed coverage on Salesforce in a report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price target on the stock. Westpark Capital reiterated a "buy" rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday, April 30th. 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. Finally, Oppenheimer dropped their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $351.59.

Salesforce Stock Down 3.7%

Shares of CRM stock traded down $10.37 during trading hours on Friday, reaching $273.05. The company had a trading volume of 8,878,975 shares, compared to its average volume of 6,925,114. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day simple moving average of $268.46 and a 200-day simple moving average of $306.58. The company has a market cap of $262.51 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. Salesforce's dividend payout ratio is presently 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 705 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at $2,605,219.12. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,011 shares of company stock worth $13,038,373 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.