Salesforce, Inc. (NYSE:CRM) Holdings Decreased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,082 shares of the CRM provider's stock after selling 7,864 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Salesforce were worth $41,484,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CRM. Geode Capital Management LLC raised its position in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after acquiring an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp lifted its stake in Salesforce by 18.3% during 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 purchasing an additional 1,736,667 shares during the last quarter. Norges Bank acquired a new stake in Salesforce during the fourth quarter valued at approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD grew its position in Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after buying an additional 1,683,233 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 4,586 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $1,163,284.76. Following the completion of the transaction, the insider now owns 33,273 shares of the company's stock, valued at approximately $8,440,029.18. This represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the sale, the chief accounting officer now directly owns 11,711 shares in the company, valued at approximately $3,220,525. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $12,907,361 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRM has been the subject of several research reports. Piper Sandler reduced their price objective on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating for the company. Finally, Morgan Stanley cut 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. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Stock Up 0.4 %

Salesforce stock opened at $273.65 on Wednesday. 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, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a fifty day moving average price of $268.22 and a two-hundred day moving average price of $307.43. The firm has a market cap of $263.08 billion, a price-to-earnings ratio of 45.01, a P/E/G ratio of 2.58 and a beta of 1.42.

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 paid a dividend of $0.42 per share. This is an increase 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 presently 26.10%.

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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