Salesforce, Inc. (NYSE:CRM) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 58.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 855,460 shares of the CRM provider’s stock after selling 1,205,281 shares during the quarter. Salesforce makes up approximately 3.4% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its 10th biggest position. Ontario Teachers Pension Plan Board’s holdings in Salesforce were worth $286,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp boosted its holdings in Salesforce by 5.5% during the third quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider’s stock worth $52,912,000 after buying an additional 10,084 shares during the last quarter. Invst LLC boosted its stake in Salesforce by 4.2% during the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock worth $4,654,000 after acquiring an additional 685 shares during the last quarter. Passumpsic Savings Bank grew its holdings in Salesforce by 1.2% during the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after purchasing an additional 87 shares during the period. Anchor Investment Management LLC increased its stake in Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock valued at $1,174,000 after purchasing an additional 581 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Salesforce by 14.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after purchasing an additional 866 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $254.04 on Tuesday. The company has a market cap of $244.13 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 firm has a 50 day simple moving average of $287.42 and a 200 day simple moving average of $310.55.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,534,090. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 652 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares in the company, valued at approximately $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 45,660 shares of company stock valued at $14,095,336 over the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRM. Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Finally, Robert W. Baird dropped their price target 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 analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $360.76.

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.