Dimensional Fund Advisors LP Sells 156,167 Shares of Salesforce, Inc. (NYSE:CRM)

Dimensional Fund Advisors LP lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,869,968 shares of the CRM provider’s stock after selling 156,167 shares during the period. Dimensional Fund Advisors LP owned about 0.40% of Salesforce worth $1,293,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Norges Bank bought a new position in shares of Salesforce during the fourth quarter worth about $3,599,867,000. Raymond James Financial Inc. bought a new position in shares of Salesforce during the 4th quarter worth about $1,173,564,000. Invesco Ltd. increased its holdings in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $246.93 on Friday. The company has a 50-day simple moving average of $281.23 and a two-hundred day simple moving average of $309.39. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $237.30 billion, a price-to-earnings ratio of 40.61, a PEG 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 Increases Dividend

The firm also recently declared 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 represents a $1.68 annualized dividend 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 of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Buying and Selling

In related news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % 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 in the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup restated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Jefferies Financial Group decreased their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Macquarie reiterated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Finally, DA Davidson dropped their price target on shares of Salesforce from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $360.32.

About Salesforce

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.