Salesforce, Inc. (NYSE:CRM) Stock Holdings Lessened by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,147 shares of the CRM provider's stock after selling 3,285 shares during the quarter. Salesforce makes up about 1.9% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 11th biggest holding. Sompo Asset Management Co. Ltd.'s holdings in Salesforce were worth $11,082,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CRM. Nvest Financial LLC raised its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD increased its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC boosted its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price on the stock. DA Davidson restated an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Monday, April 21st. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and lifted their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Cantor Fitzgerald began coverage on Salesforce in a report on Wednesday. They issued an "overweight" rating and a $210.00 price target for the company. Finally, Stifel Nicolaus reduced their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $351.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 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 $386,831.50. Following the completion of the sale, the chief accounting officer now directly owns 12,211 shares of the company's stock, valued at approximately $3,097,442.26. This represents a 11.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,051 shares of company stock valued at $15,027,714. Corporate insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of NYSE:CRM traded up $3.17 during trading hours on Friday, hitting $267.87. 5,649,322 shares of the company's stock traded hands, compared to its average volume of 6,824,128. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company's fifty day simple moving average is $273.75 and its two-hundred day simple moving average is $308.41. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market cap of $257.42 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.63%. Salesforce's payout ratio is 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.