Two Sigma Securities LLC Sells 15,664 Shares of Salesforce, Inc. (NYSE:CRM)

Two Sigma Securities LLC cut its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 85.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,655 shares of the CRM provider's stock after selling 15,664 shares during the period. Two Sigma Securities LLC's holdings in Salesforce were worth $888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth $25,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter valued at $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRM shares. Citigroup reiterated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Piper Sandler lowered their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, DA Davidson restated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $351.37.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Salesforce stock traded up $1.29 during mid-day trading on Tuesday, hitting $266.93. The company's stock had a trading volume of 1,538,827 shares, compared to its average volume of 6,796,026. The stock has a market capitalization of $256.62 billion, a P/E ratio of 43.85, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average price is $272.58 and its two-hundred day moving average price is $308.39. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The business 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 is a positive change 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 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce's dividend payout ratio (DPR) is 26.10%.

About Salesforce

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.