Salesforce, Inc. (NYSE:CRM) Stock Position Trimmed by Mmbg Investment Advisors CO.

Mmbg Investment Advisors CO. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,820 shares of the CRM provider’s stock after selling 4,952 shares during the period. Salesforce accounts for about 2.6% of Mmbg Investment Advisors CO.’s holdings, making the stock its 10th biggest position. Mmbg Investment Advisors CO.’s holdings in Salesforce were worth $24,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CRM. Nvest Financial LLC increased its position in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC boosted its stake in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC increased its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.6%

Shares of NYSE CRM opened at $275.38 on Monday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $264.75 billion, a P/E ratio of 45.29, a PEG ratio of 2.58 and a beta of 1.42. The stock’s 50 day moving average price is $267.33 and its two-hundred day moving average price is $307.36.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio is currently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. Scotiabank dropped their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Westpark Capital reissued a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Friday, April 25th. Piper Sandler decreased their target price on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Stephens began coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.56.

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.