Salesforce, Inc. (NYSE:CRM) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,498 shares of the CRM provider’s stock after selling 40,086 shares during the period. Tidal Investments LLC’s holdings in Salesforce were worth $52,322,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter worth $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter worth $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 0.1%

NYSE CRM opened at $291.00 on Friday. The company has a market cap of $279.76 billion, a PE ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. 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 12 month low of $212.00 and a 12 month high of $369.00. The stock has a 50 day moving average of $268.10 and a 200-day moving average of $307.10.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,527 shares of company stock worth $14,882,976. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Mizuho lowered their target price on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 target price for the company. Jefferies Financial Group lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $352.62.

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.