Salesforce, Inc. (NYSE:CRM) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,765 shares of the CRM provider’s stock after selling 12,148 shares during the period. Salesforce comprises approximately 0.5% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 28th biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Salesforce were worth $55,086,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its holdings in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Athena Investment Management purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $236,000. Highland Capital Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $4,321,000. Nordea Investment Management AB increased its stake in shares of Salesforce by 11.9% in the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after buying an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after acquiring an additional 1,936 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Scotiabank dropped 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. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $360.32.

Insiders Place Their Bets

In related news, insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,654 shares of company stock worth $14,124,094. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $246.93 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $237.30 billion, a PE ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. The stock’s 50-day moving average price is $281.23 and its two-hundred day moving average price is $309.60.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Salesforce Company 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.