Fmr LLC Sells 2,947,583 Shares of Salesforce, Inc. (NYSE:CRM)

Fmr LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,197,304 shares of the CRM provider’s stock after selling 2,947,583 shares during the period. Salesforce makes up about 0.5% of Fmr LLC’s portfolio, making the stock its 26th largest holding. Fmr LLC’s holdings in Salesforce were worth $7,755,555,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. United Bank raised its position in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares in the last quarter. Weiss Asset Management LP bought a new position in Salesforce in the third quarter valued at about $3,048,000. EP Wealth Advisors LLC raised its stake in Salesforce by 241.0% during the third quarter. EP Wealth Advisors LLC now owns 102,393 shares of the CRM provider’s stock worth $28,026,000 after acquiring an additional 72,362 shares in the last quarter. Glen Eagle Advisors LLC lifted its holdings in shares of Salesforce by 28.4% in the third quarter. Glen Eagle Advisors LLC now owns 4,683 shares of the CRM provider’s stock worth $1,282,000 after acquiring an additional 1,037 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Salesforce by 11.7% in the 3rd quarter. National Bank of Canada FI now owns 974,566 shares of the CRM provider’s stock valued at $266,748,000 after purchasing an additional 102,122 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 5.9 %

Salesforce stock opened at $240.26 on Friday. 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 firm has a 50 day moving average price of $302.46 and a 200-day moving average price of $311.39. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. 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 annualized dividend and a yield of 0.70%. Salesforce’s dividend payout ratio is 26.10%.

Insiders Place Their Bets

In other Salesforce news, Director Oscar Munoz acquired 3,882 shares of Salesforce stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the purchase, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the sale, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Macquarie reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. One equities 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 company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $361.42.

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.