Novo Holdings A S Sells 74,659 Shares of Salesforce, Inc. (NYSE:CRM)

Novo Holdings A S lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 293,901 shares of the CRM provider’s stock after selling 74,659 shares during the period. Salesforce comprises about 5.9% of Novo Holdings A S’s investment portfolio, making the stock its 6th biggest holding. Novo Holdings A S’s holdings in Salesforce were worth $98,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth approximately $25,000. Arlington Trust Co LLC boosted its position in 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 acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial acquired a new stake in Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.3 %

NYSE CRM opened at $268.46 on Thursday. The company has a market capitalization of $258.09 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $270.74 and its 200-day simple moving average is $307.83.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Analyst Ratings Changes

Several equities analysts have commented on CRM shares. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Canaccord Genuity Group decreased 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. Westpark Capital reissued a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday. Finally, Morgan Stanley decreased their target price on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. 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 company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.56.

Insider Activity

In related news, CEO Brian Millham sold 3,937 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,705,195. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock worth $15,027,714 in the last three months. 3.20% of the stock is owned by insiders.

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.