Groupama Asset Managment Sells 57,704 Shares of Salesforce, Inc. (NYSE:CRM)

Groupama Asset Managment trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,881 shares of the CRM provider's stock after selling 57,704 shares during the quarter. Groupama Asset Managment's holdings in Salesforce were worth $12,382,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRM. Norges Bank bought a new position in shares of Salesforce in the fourth quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. purchased a new position in shares of Salesforce during the 4th quarter valued at $1,173,564,000. Jennison Associates LLC increased its holdings in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB raised its position in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Salesforce by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider's stock valued at $1,871,721,000 after buying an additional 1,204,355 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Remove Ads

Salesforce Stock Up 0.7 %

CRM traded up $1.82 on Tuesday, hitting $270.18. The company had a trading volume of 4,596,911 shares, compared to its average volume of 6,653,506. The stock has a fifty day simple moving average of $307.13 and a 200-day simple moving average of $311.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $259.64 billion, a P/E ratio of 44.44, a P/E/G 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. KeyCorp raised Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Wells Fargo & Company lowered their target price on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $361.42.

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.