Salesforce, Inc. (NYSE:CRM) Shares Sold by Seaview Investment Managers LLC

Seaview Investment Managers LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 16.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,302 shares of the CRM provider’s stock after selling 5,911 shares during the period. Salesforce makes up about 2.8% of Seaview Investment Managers LLC’s investment portfolio, making the stock its 14th biggest position. Seaview Investment Managers LLC’s holdings in Salesforce were worth $10,131,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $25,000. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $246.93 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $237.30 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm’s fifty day moving average price is $281.23 and its 200 day moving average price is $309.60. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on CRM shares. Jefferies Financial Group dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Oppenheimer lowered their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Guggenheim reissued a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $360.32.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 652 shares of the firm’s stock in a transaction that occurred 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 completion of 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 sold 47,654 shares of company stock valued at $14,124,094 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

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.