Mirova Sells 1,816 Shares of Salesforce, Inc. (NYSE:CRM)

Mirova lessened its stake in Salesforce, Inc. (NYSE:CRM) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,212 shares of the CRM provider’s stock after selling 1,816 shares during the period. Salesforce comprises about 0.8% of Mirova’s portfolio, making the stock its 24th biggest position. Mirova’s holdings in Salesforce were worth $5,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CRM. NewSquare Capital LLC lifted its stake in shares of Salesforce by 132.8% in the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares during the period. GHP Investment Advisors Inc. raised its stake in Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after buying an additional 63 shares during the period. Live Oak Investment Partners acquired a new position in Salesforce during the 4th quarter worth approximately $36,000. Delta Asset Management LLC TN acquired a new position in Salesforce during the 4th quarter worth approximately $39,000. Finally, HBC Financial Services PLLC raised its stake in Salesforce by 350.0% during the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after buying an additional 175 shares during the period. Institutional investors own 77.52% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 500,000 shares of Salesforce stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $209.14, for a total transaction of $104,570,000.00. Following the completion of the sale, the chief executive officer now owns 16,671,609 shares of the company’s stock, valued at $3,486,700,306.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $215.50, for a total transaction of $269,375.00. Following the completion of the sale, the insider now owns 100,309 shares of the company’s stock, valued at $21,616,589.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 500,000 shares of Salesforce stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $209.14, for a total value of $104,570,000.00. Following the sale, the chief executive officer now directly owns 16,671,609 shares of the company’s stock, valued at approximately $3,486,700,306.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,166,195 shares of company stock valued at $249,318,692. Company insiders own 3.70% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $224.80 on Friday. The firm has a market capitalization of $218.73 billion, a price-to-earnings ratio of 141.38, a P/E/G ratio of 1.68 and a beta of 1.19. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $238.22. The stock has a fifty day moving average of $217.39 and a 200 day moving average of $204.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.22. The company had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Mizuho upped their price target on Salesforce from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Barclays increased their price objective on Salesforce from $245.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Wedbush increased their price objective on Salesforce from $240.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. JPMorgan Chase & Co. increased their price objective on Salesforce from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Finally, Roth Mkm increased their price objective on Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $239.86.

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.