Salesforce, Inc. (NYSE:CRM) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,498 shares of the CRM provider's stock after selling 40,086 shares during the period. Tidal Investments LLC's holdings in Salesforce were worth $52,322,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRM. Regent Peak Wealth Advisors LLC boosted its stake in Salesforce by 3.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock worth $818,000 after purchasing an additional 84 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of Salesforce in the 4th quarter worth $236,000. Cypress Wealth Services LLC acquired a new stake in shares of Salesforce in the 4th quarter worth $248,000. Goldstone Financial Group LLC acquired a new stake in shares of Salesforce in the 4th quarter worth $253,000. Finally, Chemistry Wealth Management LLC lifted its stake in shares of Salesforce by 2.1% in the 4th quarter. Chemistry Wealth Management LLC now owns 5,055 shares of the CRM provider's stock worth $1,690,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,527 shares of company stock worth $14,882,976. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $291.00 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50-day simple moving average of $268.10 and a 200-day simple moving average of $307.10. The company has a market cap of $279.76 billion, a PE ratio of 47.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. 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 Increases Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Scotiabank reduced their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Robert W. Baird reduced their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group reduced their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $400.00 target price 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 assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $352.62.

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.

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