Tower Research Capital LLC TRC Sells 745 Shares of Salesforce, Inc. (NYSE:CRM)

Tower Research Capital LLC TRC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,606 shares of the CRM provider’s stock after selling 745 shares during the quarter. Salesforce comprises 0.5% of Tower Research Capital LLC TRC’s holdings, making the stock its 28th biggest position. Tower Research Capital LLC TRC’s holdings in Salesforce were worth $23,940,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Salesforce by 5.5% in the third quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider’s stock worth $52,912,000 after purchasing an additional 10,084 shares during the period. Invst LLC raised its position in shares of Salesforce by 4.2% in the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after buying an additional 685 shares in the last quarter. Passumpsic Savings Bank lifted its holdings in shares of Salesforce by 1.2% during the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock worth $2,007,000 after acquiring an additional 87 shares during the period. Anchor Investment Management LLC boosted its position in shares of Salesforce by 15.7% during the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after acquiring an additional 581 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in Salesforce by 14.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock valued at $1,930,000 after purchasing an additional 866 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $246.93 on Friday. The company has a market cap of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The business has a 50 day moving average price of $281.23 and a 200-day moving average price of $309.60.

Salesforce Increases Dividend

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

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 1,256 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at $3,248,954.06. This trade represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,654 shares of company stock worth $14,124,094 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRM. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Robert W. Baird dropped their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Finally, Oppenheimer lowered their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $360.32.

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.