Salesforce, Inc. (NYSE:CRM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,626 shares of the CRM provider’s stock after selling 181 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Salesforce were worth $1,547,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Nvest Financial LLC raised its holdings in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD grew 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 purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC raised its stake in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares of the company’s stock, valued at $8,416,644.60. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $270.04 on Friday. The stock has a 50-day moving average of $309.39 and a 200-day moving average of $310.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $259.51 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is 25.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Finally, Royal Bank of Canada lifted their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

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.