Salesforce, Inc. (NYSE:CRM) Shares Sold by Mmbg Investment Advisors CO.

Mmbg Investment Advisors CO. reduced its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,820 shares of the CRM provider's stock after selling 4,952 shares during the period. Salesforce makes up about 2.6% of Mmbg Investment Advisors CO.'s portfolio, making the stock its 10th biggest holding. Mmbg Investment Advisors CO.'s holdings in Salesforce were worth $24,346,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC increased its holdings in shares of Salesforce by 3.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock valued at $818,000 after acquiring an additional 84 shares in the last quarter. Czech National Bank boosted its position in Salesforce by 5.0% during the fourth quarter. Czech National Bank now owns 207,280 shares of the CRM provider's stock worth $69,300,000 after purchasing an additional 9,885 shares during the period. Aprio Wealth Management LLC lifted its holdings in Salesforce by 35.7% during the 4th quarter. Aprio Wealth Management LLC now owns 3,945 shares of the CRM provider's stock worth $1,319,000 after purchasing an additional 1,038 shares in the last quarter. Crescent Sterling Ltd. increased its holdings in shares of Salesforce by 86.8% in the fourth quarter. Crescent Sterling Ltd. now owns 1,719 shares of the CRM provider's stock worth $575,000 after purchasing an additional 799 shares during the period. Finally, Winthrop Advisory Group LLC lifted its position in Salesforce by 2.7% during the fourth quarter. Winthrop Advisory Group LLC now owns 1,950 shares of the CRM provider's stock valued at $652,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Robert W. Baird reduced their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Friday, April 25th. Finally, Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have assigned 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $350.56.

Salesforce Stock Up 0.1%

Shares of Salesforce stock traded up $0.36 during trading on Tuesday, reaching $289.18. The company's stock had a trading volume of 6,708,467 shares, compared to its average volume of 6,859,158. The company has a 50-day simple moving average of $267.33 and a two-hundred day simple moving average of $307.23. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $278.01 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business's 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 sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at $3,218,599.80. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $12,907,361 in the last three months. 3.20% of the stock is owned by 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.