Ecofi Investissements SA Sells 700 Shares of Salesforce, Inc. (NYSE:CRM)

Ecofi Investissements SA lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 18.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,100 shares of the CRM provider’s stock after selling 700 shares during the quarter. Salesforce comprises approximately 0.6% of Ecofi Investissements SA’s investment portfolio, making the stock its 26th largest holding. Ecofi Investissements SA’s holdings in Salesforce were worth $960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Norges Bank bought a new stake in Salesforce during the 4th quarter worth approximately $3,599,867,000. Invesco Ltd. raised its stake in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Salesforce by 10.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider’s stock valued at $2,204,336,000 after buying an additional 628,593 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. DA Davidson reduced their target price on Salesforce from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $360.32.

Salesforce Stock Down 1.2 %

CRM opened at $246.93 on Friday. The firm has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a fifty day moving average price of $281.23 and a 200-day moving average price of $309.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.68%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,654 shares of company stock worth $14,124,094 in the last ninety days. 3.20% of the stock is currently owned by insiders.

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.