Mirova Acquires 2,758 Shares of Salesforce, Inc. (NYSE:CRM)

Mirova grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,842 shares of the CRM provider’s stock after buying an additional 2,758 shares during the quarter. Salesforce makes up 1.0% of Mirova’s portfolio, making the stock its 24th largest position. Mirova’s holdings in Salesforce were worth $5,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nvest Financial LLC increased its holdings in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD increased its holdings in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted 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 worth $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC grew its stake in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its position in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, DA Davidson decreased their price target on Salesforce from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $360.32.

Salesforce Stock Performance

Shares of 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 P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $281.23 and a two-hundred day moving average price of $309.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

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

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,654 shares of company stock valued at $14,124,094. 3.20% of the stock is owned by insiders.

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.