BDF Gestion Reduces Stake in Salesforce, Inc. (NYSE:CRM)

BDF Gestion lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,137 shares of the CRM provider’s stock after selling 3,266 shares during the period. Salesforce accounts for 0.8% of BDF Gestion’s investment portfolio, making the stock its 23rd biggest holding. BDF Gestion’s holdings in Salesforce were worth $8,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. boosted its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Salesforce in the third quarter worth $53,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.6 %

Shares of Salesforce stock opened at $354.14 on Thursday. The company’s 50 day moving average price is $337.96 and its 200-day moving average price is $296.02. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. 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 stock has a market capitalization of $338.91 billion, a price-to-earnings ratio of 58.25, a P/E/G ratio of 3.01 and a beta of 1.30.

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). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.45%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 708 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. This trade represents a 36.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,109,169 shares of company stock valued at $383,432,020. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Piper Sandler restated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank raised their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.