Groupama Asset Managment Has $12.38 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Groupama Asset Managment trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 61.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,881 shares of the CRM provider’s stock after selling 57,704 shares during the period. Groupama Asset Managment’s holdings in Salesforce were worth $12,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CRM. Norges Bank acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. bought a new position in shares of Salesforce in the 4th quarter valued at $1,173,564,000. Jennison Associates LLC increased its stake in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB lifted its position in shares of Salesforce by 46.7% during the 4th 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 during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Salesforce by 27.4% in 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 in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRM. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Stock Performance

Shares of Salesforce stock opened at $268.05 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 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. The business has a 50 day moving average price of $308.26 and a 200-day moving average price of $311.67. The company has a market cap of $257.60 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insiders Place Their Bets

In related news, insider Parker Harris sold 652 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last three months. 3.20% of the stock is currently owned by insiders.

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.