BDF Gestion trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,137 shares of the CRM provider's stock after selling 3,266 shares during the quarter. Salesforce accounts for approximately 0.8% of BDF Gestion's holdings, making the stock its 23rd biggest holding. BDF Gestion's holdings in Salesforce were worth $8,404,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC grew its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce in the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC lifted its stake in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider's stock worth $15,885,000 after acquiring an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its holdings in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider's stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, AIA Group Ltd grew its position in Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider's stock valued at $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.
Salesforce Stock Performance
NYSE CRM traded down $10.49 during trading hours on Thursday, reaching $343.51. The stock had a trading volume of 7,571,177 shares, compared to its average volume of 6,338,947. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a fifty day moving average of $338.53 and a 200 day moving average of $296.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $328.74 billion, a P/E ratio of 56.50, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.
Salesforce Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio is currently 26.32%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Macquarie reissued a "neutral" rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. KeyCorp upgraded shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Northland Capmk raised shares of Salesforce from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 2nd. Needham & Company LLC raised their price objective on Salesforce from $375.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.63.
View Our Latest Analysis on Salesforce
Insider Buying and Selling at Salesforce
In other news, COO Brian Millham sold 708 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,109,169 shares of company stock valued at $383,432,020. 3.20% of the stock is owned by company insiders.
Salesforce Profile
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Free Report)
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.
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