Compagnie Lombard Odier SCmA Sells 4,121 Shares of Salesforce, Inc. (NYSE:CRM)

Compagnie Lombard Odier SCmA reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,619 shares of the CRM provider’s stock after selling 4,121 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Salesforce were worth $56,253,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its stake 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 period. Prossimo Advisors LLC boosted its position in shares of Salesforce by 1.0% in the fourth 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 period. Mainstream Capital Management LLC grew its stake in Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after acquiring an additional 33 shares in the last quarter. Warren Street Wealth Advisors LLC increased its holdings in Salesforce by 3.9% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock worth $300,000 after acquiring an additional 34 shares during the period. Finally, Citizens National Bank Trust Department lifted its stake in Salesforce by 1.9% in the 4th quarter. Citizens National Bank Trust Department now owns 1,924 shares of the CRM provider’s stock worth $643,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Parker Harris sold 3,273 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares in the company, valued at $35,614,048.68. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now directly owns 9,323 shares of the company’s stock, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 0.9%

Shares of CRM opened at $265.93 on Thursday. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $267.35 and its 200-day moving average price is $301.22. The firm has a market capitalization of $254.23 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the business posted $2.44 earnings per share. Salesforce’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.63%. Salesforce’s payout ratio is 25.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. Canaccord Genuity Group decreased their price target on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Piper Sandler upped their target price on Salesforce from $315.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 28th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, UBS Group dropped their target price on shares of Salesforce from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $346.34.

About Salesforce

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.