Deutsche Bank AG Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

Deutsche Bank AG trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 4,158,657 shares of the CRM provider’s stock after selling 136,148 shares during the quarter. Salesforce accounts for about 0.5% of Deutsche Bank AG’s investment portfolio, making the stock its 25th biggest position. Deutsche Bank AG’s holdings in Salesforce were worth $1,390,364,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new position in Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the 4th quarter worth about $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the 4th quarter valued at about $31,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $12,907,361 in the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Scotiabank cut their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Morgan Stanley lowered their target price on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. DA Davidson reissued an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Salesforce Stock Up 1.8 %

Shares of NYSE:CRM opened at $278.22 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company’s fifty day moving average is $267.83 and its two-hundred day moving average is $307.23. The stock has a market capitalization of $267.48 billion, a price-to-earnings ratio of 45.76, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

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 0.60%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

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.