Salesforce, Inc. (NYSE:CRM) Shares Sold by Unisphere Establishment

Unisphere Establishment lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 423,000 shares of the CRM provider's stock after selling 136,000 shares during the period. Salesforce accounts for approximately 1.2% of Unisphere Establishment's portfolio, making the stock its 23rd largest holding. Unisphere Establishment's holdings in Salesforce were worth $141,422,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CRM. Rehmann Capital Advisory Group lifted its stake in shares of Salesforce by 1.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 5,845 shares of the CRM provider's stock worth $1,954,000 after purchasing an additional 62 shares during the period. Bison Wealth LLC increased its stake in Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after purchasing an additional 184 shares during the last quarter. Triumph Capital Management purchased a new position in Salesforce during the fourth quarter worth about $657,000. WealthCollab LLC boosted its stake in Salesforce by 354.5% in the 4th quarter. WealthCollab LLC now owns 2,868 shares of the CRM provider's stock worth $959,000 after buying an additional 2,237 shares during the last quarter. Finally, Kitching Partners LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $216,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of the business'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 transaction, the chief accounting officer now directly owns 12,211 shares of the company's stock, valued at $3,097,442.26. The trade was a 11.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 52,051 shares of company stock worth $15,027,714 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

CRM traded up $0.46 on Thursday, hitting $269.17. 5,204,423 shares of the company's stock were exchanged, compared to its average volume of 6,818,280. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $269.95 and a two-hundred day moving average of $307.67. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $258.78 billion, a PE ratio of 44.27, a P/E/G ratio of 2.58 and a beta of 1.38.

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 issued a $0.42 dividend. This is an increase 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 dividend yield of 0.62%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Analyst Ratings Changes

Several research firms recently issued reports on CRM. Morgan Stanley decreased their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Oppenheimer reduced their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price target on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $350.56.

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.