Transatlantique Private Wealth LLC Sells 712 Shares of Salesforce, Inc. (NYSE:CRM)

Transatlantique Private Wealth LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,205 shares of the CRM provider’s stock after selling 712 shares during the period. Salesforce makes up about 1.6% of Transatlantique Private Wealth LLC’s investment portfolio, making the stock its 11th largest position. Transatlantique Private Wealth LLC’s holdings in Salesforce were worth $4,080,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $236,000. Highland Capital Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at $4,321,000. Nordea Investment Management AB lifted its position in Salesforce by 11.9% in the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after purchasing an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in Salesforce by 14.1% during the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock worth $5,252,000 after buying an additional 1,936 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.2 %

Salesforce stock opened at $246.93 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $237.30 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. The company’s 50 day simple moving average is $281.23 and its 200 day simple moving average is $309.60.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.68%. Salesforce’s payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Robert W. Baird reduced their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $360.32.

Insider Activity at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17 % 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, CAO Sundeep G. Reddy sold 1,256 shares of the business’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 $318,157.36. Following the completion of the transaction, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at $3,248,954.06. This represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,654 shares of company stock worth $14,124,094 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.