Salesforce, Inc. (NYSE:CRM) Shares Sold by Amundi

Amundi cut its stake in Salesforce, Inc. (NYSE:CRM) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,850,548 shares of the CRM provider’s stock after selling 430,896 shares during the period. Salesforce accounts for approximately 0.7% of Amundi’s investment portfolio, making the stock its 21st largest holding. Amundi’s holdings in Salesforce were worth $1,916,806,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. M&G PLC increased its holdings in shares of Salesforce by 97.3% during the third quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock valued at $3,911,000 after purchasing an additional 7,038 shares during the period. Consolidated Planning Corp acquired a new position in shares of Salesforce during the third quarter valued at $206,000. Mainstream Capital Management LLC acquired a new position in shares of Salesforce during the third quarter valued at $1,745,000. Dudley Capital Management LLC increased its holdings in shares of Salesforce by 1.2% during the third quarter. Dudley Capital Management LLC now owns 4,274 shares of the CRM provider’s stock valued at $1,170,000 after purchasing an additional 51 shares during the period. Finally, TFB Advisors LLC increased its holdings in shares of Salesforce by 3.3% during the third quarter. TFB Advisors LLC now owns 1,986 shares of the CRM provider’s stock valued at $544,000 after purchasing an additional 63 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 1.2 %

CRM opened at $282.74 on Friday. The business has a 50-day moving average of $323.68 and a 200-day moving average of $308.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market capitalization of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank decreased their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $365.62.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last 90 days. 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.