Wormser Freres Gestion Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

Wormser Freres Gestion lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,181 shares of the CRM provider’s stock after selling 891 shares during the quarter. Salesforce accounts for 5.7% of Wormser Freres Gestion’s holdings, making the stock its 4th biggest holding. Wormser Freres Gestion’s holdings in Salesforce were worth $9,507,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Nvest Financial LLC increased its position in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC increased its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,011 shares of company stock worth $13,038,373. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Friday, April 25th. Piper Sandler cut their price objective on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Mizuho cut their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have given 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $351.59.

Salesforce Trading Down 3.7%

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

Salesforce Increases Dividend

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

Salesforce 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.