Mirova Has $5.97 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Mirova lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,842 shares of the CRM provider's stock after purchasing an additional 2,758 shares during the quarter. Salesforce accounts for about 1.0% of Mirova's portfolio, making the stock its 24th biggest position. Mirova's holdings in Salesforce were worth $5,965,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter valued at about $25,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. Institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRM shares. Jefferies Financial Group cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Cantor Fitzgerald started coverage on shares of Salesforce in a research note on Wednesday. They set an "overweight" rating for the company. Morgan Stanley lowered their target price on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $355.19.

Salesforce Price Performance

Shares of CRM traded up $13.68 during trading hours on Thursday, hitting $264.16. 4,117,365 shares of the company were exchanged, compared to its average volume of 7,030,512. The company has a market cap of $253.85 billion, a price-to-earnings ratio of 43.45, a P/E/G ratio of 2.58 and a beta of 1.38. The firm's fifty day moving average is $276.19 and its 200 day moving average is $308.58. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Activity

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,961 shares of company stock worth $13,229,264. 3.20% of the stock is currently owned by corporate insiders.

About Salesforce

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.