Candriam S.C.A. Sells 88,037 Shares of Salesforce, Inc. (NYSE:CRM)

Candriam S.C.A. trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 14.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 512,334 shares of the CRM provider’s stock after selling 88,037 shares during the quarter. Salesforce comprises 0.8% of Candriam S.C.A.’s portfolio, making the stock its 23rd biggest holding. Candriam S.C.A. owned about 0.05% of Salesforce worth $131,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Norges Bank bought a new stake in shares of Salesforce during the fourth quarter worth $2,762,331,000. Capital International Investors grew its position in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the period. Capital Research Global Investors lifted its holdings in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. GQG Partners LLC bought a new position in Salesforce in the first quarter valued at approximately $910,220,000. Finally, Swedbank AB acquired a new stake in Salesforce during the 1st quarter worth $874,748,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $244.02 on Friday. The firm has a market cap of $236.46 billion, a PE ratio of 43.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.11. The stock’s fifty day moving average price is $254.52 and its two-hundred day moving average price is $269.79. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CRM shares. Stifel Nicolaus increased their price target on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Bank of America reiterated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Friday. UBS Group raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and issued a $300.00 target price on shares of Salesforce in a research note on Friday, August 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.41.

Insiders Place Their Bets

In other news, Director Craig Conway sold 6,000 shares of Salesforce stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the sale, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, Director Craig Conway sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the transaction, the director now directly owns 6,855 shares in the company, valued at approximately $1,642,732.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $29,464,622.79. The disclosure for this sale can be found here. Insiders sold a total of 83,692 shares of company stock valued at $21,006,957 in the last 90 days. 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.