BNP Paribas Sells 16,058 Shares of Salesforce, Inc. (NYSE:CRM)

BNP Paribas reduced its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 15.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,464 shares of the CRM provider's stock after selling 16,058 shares during the period. Salesforce comprises about 1.3% of BNP Paribas' investment portfolio, making the stock its 23rd biggest position. BNP Paribas' holdings in Salesforce were worth $30,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nvest Financial LLC lifted its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC boosted its position in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a report on Monday, April 21st. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Piper Sandler decreased their target price on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley dropped their price target on Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One research 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 stock. According to MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Trading Down 1.0 %

CRM stock traded down $2.68 on Monday, reaching $272.40. The company's stock had a trading volume of 4,168,008 shares, compared to its average volume of 6,820,848. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business has a fifty day simple moving average of $268.64 and a two-hundred day simple moving average of $307.67. The firm has a market cap of $261.88 billion, a PE ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at approximately $3,220,525. This represents a 4.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 4,586 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $1,163,284.76. Following the completion of the sale, the insider now directly owns 33,273 shares in the company, valued at approximately $8,440,029.18. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock valued at $12,907,361 over the last three months. 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.