Candriam S.C.A. Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Candriam S.C.A. lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 663,879 shares of the CRM provider's stock after purchasing an additional 12,815 shares during the period. Salesforce comprises approximately 1.3% of Candriam S.C.A.'s holdings, making the stock its 9th biggest position. Candriam S.C.A. owned approximately 0.07% of Salesforce worth $221,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Barn Wealth LLC purchased a new stake in Salesforce during the 4th quarter valued at approximately $233,000. Ethos Financial Group LLC purchased a new stake in Salesforce during the 4th quarter valued at approximately $237,000. Carmel Capital Partners LLC grew its holdings in Salesforce by 7.1% during the 4th quarter. Carmel Capital Partners LLC now owns 4,435 shares of the CRM provider's stock valued at $1,483,000 after buying an additional 294 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Salesforce during the 4th quarter valued at approximately $1,173,564,000. Finally, Dana Investment Advisors Inc. grew its holdings in shares of Salesforce by 2.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 84,147 shares of the CRM provider's stock valued at $28,133,000 after purchasing an additional 1,694 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 1.6 %

Shares of NYSE:CRM opened at $292.05 on Thursday. 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 business has a fifty day moving average of $325.91 and a two-hundred day moving average of $308.21. The stock has a market cap of $279.49 billion, a P/E ratio of 48.03, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's quarterly 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 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRM shares. Wells Fargo & Company cut their target price on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Wedbush restated an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Macquarie lowered their price target on Salesforce from $370.00 to $320.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Truist Financial restated a "buy" rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price target on Salesforce from $360.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $365.32.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Corporate insiders own 3.20% of the company's stock.

Salesforce Company 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.

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