1,205 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Exane Asset Management

Exane Asset Management bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,205 shares of the CRM provider’s stock, valued at approximately $417,000. Salesforce accounts for about 0.2% of Exane Asset Management’s holdings, making the stock its 22nd biggest position.

Other large investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce in the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC increased its position in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Aljian Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd boosted its position in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 1.5 %

CRM opened at $325.81 on Friday. The company has a market cap of $311.80 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a 50-day moving average price of $339.05 and a 200 day moving average price of $299.87. 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 (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus upped their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank lifted their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Loop Capital lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. Corporate insiders own 3.20% of the company’s stock.

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.