Salesforce, Inc. (NYSE:CRM) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,612 shares of the CRM provider's stock after selling 11,541 shares during the period. Gotham Asset Management LLC's holdings in Salesforce were worth $6,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. Norges Bank acquired a new position in Salesforce in the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $1,173,564,000. Invesco Ltd. lifted its holdings in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares of the company's stock, valued at $1,805,936.08. This represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,527 shares of company stock worth $14,882,976 over the last 90 days. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Loop Capital cut their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut their target price on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald began coverage on Salesforce in a research report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $352.62.

Salesforce Stock Up 0.1%

NYSE:CRM traded up $0.24 during trading hours on Friday, hitting $291.00. The company's stock had a trading volume of 3,837,674 shares, compared to its average volume of 6,888,685. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market capitalization of $279.76 billion, a P/E ratio of 47.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The stock has a fifty day moving average of $268.10 and a 200-day moving average of $307.21.

Salesforce Increases Dividend

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