Salesforce, Inc. (NYSE:CRM) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 287,036 shares of the CRM provider’s stock after selling 601 shares during the quarter. Salesforce accounts for about 0.5% of MetLife Investment Management LLC’s investment portfolio, making the stock its 24th largest position. MetLife Investment Management LLC’s holdings in Salesforce were worth $95,965,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter valued at about $25,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter worth $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth about $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter valued at about $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $246.93 on Friday. The firm has a market capitalization of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current 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 firm has a 50-day moving average price of $281.23 and a 200 day moving average price of $309.39.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,534,090. The trade was a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 652 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at $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 have sold 47,654 shares of company stock worth $14,124,094 over the last three months. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Macquarie restated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. DA Davidson dropped their price objective on Salesforce from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $360.32.

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.