Salesforce, Inc. (NYSE:CRM) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,038 shares of the CRM provider’s stock after selling 136 shares during the period. Bridges Investment Management Inc.’s holdings in Salesforce were worth $799,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CRM. Union Savings Bank acquired a new position in Salesforce during the second quarter worth $27,000. Pacifica Partners Inc. lifted its stake in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Salesforce during the fourth quarter worth $34,000. GHP Investment Advisors Inc. increased its position in shares of Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares during the period. Finally, Live Oak Investment Partners purchased a new position in Salesforce in the fourth quarter valued at $36,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 913,175 shares of company stock worth $261,391,996. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. Wolfe Research raised shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price for the company in a research note on Monday, December 18th. Finally, BMO Capital Markets lifted their target price on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $304.97.

Read Our Latest Report on Salesforce

Salesforce Price Performance

CRM stock traded up $2.19 on Wednesday, hitting $306.19. 534,997 shares of the company’s stock traded hands, compared to its average volume of 5,621,626. Salesforce, Inc. has a 1-year low of $187.31 and a 1-year high of $318.71. The stock has a market cap of $297.00 billion, a price-to-earnings ratio of 72.91, a P/E/G ratio of 2.32 and a beta of 1.28. The stock has a fifty day moving average of $296.10 and a 200-day moving average of $254.65. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is currently 9.52%.

Salesforce Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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