Deutsche Bank AG Sells 136,148 Shares of Salesforce, Inc. (NYSE:CRM)

Deutsche Bank AG lowered its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,158,657 shares of the CRM provider's stock after selling 136,148 shares during the quarter. Salesforce accounts for approximately 0.5% of Deutsche Bank AG's investment portfolio, making the stock its 25th largest position. Deutsche Bank AG owned approximately 0.43% of Salesforce worth $1,390,364,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the fourth quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce during the 4th quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Down 1.6 %

Shares of Salesforce stock traded down $4.36 during trading on Friday, reaching $275.38. 4,322,783 shares of the company were exchanged, compared to its average volume of 6,832,205. The business has a 50-day moving average price of $267.33 and a 200-day moving average price of $307.06. The firm has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. 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 dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling

In related news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44 % 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 owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRM shares. Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a report on Friday, April 25th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Westpark Capital reaffirmed a "buy" rating and set a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $350.56.

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.