Axa S.A. Purchases 274,104 Shares of Salesforce, Inc. (NYSE:CRM)

AXA S.A. raised its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,119,533 shares of the CRM provider's stock after buying an additional 274,104 shares during the period. Salesforce comprises 1.1% of AXA S.A.'s investment portfolio, making the stock its 11th biggest position. AXA S.A. owned approximately 0.12% of Salesforce worth $374,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CRM. Absoluto Partners Gestao de Recursos Ltda increased its position in shares of Salesforce by 101.7% during the 4th quarter. Absoluto Partners Gestao de Recursos Ltda now owns 2,886 shares of the CRM provider's stock worth $965,000 after purchasing an additional 1,455 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth approximately $27,000. 360 Financial Inc. acquired a new position in Salesforce during the fourth quarter worth $206,000. 4WEALTH Advisors Inc. purchased a new position in shares of Salesforce during the fourth quarter worth $453,000. Finally, Gallagher Fiduciary Advisors LLC grew its stake in shares of Salesforce by 39.3% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 1,573 shares of the CRM provider's stock valued at $526,000 after buying an additional 444 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Macquarie reissued a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Canaccord Genuity Group reduced their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company cut their target price on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.56.

Salesforce Stock Down 1.0 %

NYSE:CRM traded down $2.68 on Monday, hitting $272.40. 4,168,008 shares of the company's stock traded hands, compared to its average volume of 6,820,848. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $261.88 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm has a 50-day moving average price of $269.34 and a 200-day moving average price of $307.82.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's dividend payout ratio is currently 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated 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 transaction, the insider now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is owned by insiders.

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.