Salesforce, Inc. (NYSE:CRM) Shares Sold by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. lessened its position in Salesforce, Inc. (NYSE:CRM) by 94.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,764 shares of the CRM provider’s stock after selling 143,655 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in Salesforce were worth $2,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the fourth quarter valued at $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter worth about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. Morgan Stanley decreased their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $350.56.

Salesforce Stock Performance

Shares of CRM stock opened at $289.18 on Wednesday. The firm has a market cap of $278.01 billion, a P/E ratio of 47.56, a PEG ratio of 2.58 and a beta of 1.42. The stock’s 50-day moving average is $267.33 and its two-hundred day moving average is $307.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was 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 of the company’s stock, valued at approximately $15,342,415. This represents a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company’s stock.

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.