Cambridge Investment Research Advisors Inc. Sells 7,864 Shares of Salesforce, Inc. (NYSE:CRM)

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 124,082 shares of the CRM provider’s stock after selling 7,864 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Salesforce were worth $41,484,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% in 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 4th quarter worth about $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the 4th quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares in the company, valued at $3,220,525. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock worth $12,907,361 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Morgan Stanley dropped their price target on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. DA Davidson reissued an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a research note on Monday, April 21st. Oppenheimer cut their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Stock Up 0.4 %

Shares of CRM stock opened at $273.65 on Wednesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month 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 firm has a fifty day moving average of $268.22 and a 200-day moving average of $307.43. The company has a market capitalization of $263.08 billion, a price-to-earnings ratio of 45.01, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

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.