Lazard Freres Gestion S.A.S. Sells 3,187 Shares of Salesforce, Inc. (NYSE:CRM)

Lazard Freres Gestion S.A.S. cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,100 shares of the CRM provider’s stock after selling 3,187 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Salesforce were worth $5,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. raised 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 acquiring an additional 90 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.4 %

Shares of NYSE:CRM traded up $1.50 during trading on Tuesday, reaching $340.61. The company’s stock had a trading volume of 372,367 shares, compared to its average volume of 6,278,132. The stock has a market capitalization of $325.62 billion, a PE ratio of 58.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $296.26 and its two-hundred day simple moving average is $268.98.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is presently 27.83%.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, JMP Securities boosted their target price on shares of Salesforce from $342.00 to $450.00 and gave the company a “market outperform” rating in a research note on Friday. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.66.

Insider Activity at Salesforce

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. This trade represents a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,510 shares of company stock worth $42,475,538. Insiders own 3.20% of the company’s stock.

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.