Salesforce, Inc. (NYSE:CRM) is Wormser Freres Gestion’s 4th Largest Position

Wormser Freres Gestion trimmed its position in Salesforce, Inc. (NYSE:CRM) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 28,181 shares of the CRM provider’s stock after selling 891 shares during the quarter. Salesforce makes up about 5.7% of Wormser Freres Gestion’s portfolio, making the stock its 4th largest position. Wormser Freres Gestion’s holdings in Salesforce were worth $9,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter worth about $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter worth about $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% 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, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,011 shares of company stock worth $13,038,373. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $273.05 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $262.51 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $268.46 and its 200 day moving average price is $306.58.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their target price on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Bank of America dropped their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $351.59.

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.