Meiji Yasuda Asset Management Co Ltd. Buys 867 Shares of Salesforce, Inc. (NYSE:CRM)

Meiji Yasuda Asset Management Co Ltd. lifted its position in Salesforce, Inc. (NYSE:CRM) by 5.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,052 shares of the CRM provider’s stock after purchasing an additional 867 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Salesforce were worth $6,035,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CRM. Arlington Trust Co LLC raised its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at approximately $31,000. Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter worth $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

NYSE CRM opened at $288.59 on Wednesday. The business’s fifty day moving average is $312.15 and its 200 day moving average is $310.95. 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 quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $277.33 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRM. Wells Fargo & Company reduced their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. Finally, Robert W. Baird cut their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,194,689 over the last quarter. 3.20% of the stock is currently owned by company 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.