Meiji Yasuda Asset Management Co Ltd. Has $6.04 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,052 shares of the CRM provider’s stock after purchasing an additional 867 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Salesforce were worth $6,035,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRM. United Bank lifted its holdings in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Salesforce by 1.2% during the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider’s stock worth $2,415,000 after acquiring an additional 105 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of Salesforce by 0.8% in the 3rd quarter. Hancock Whitney Corp now owns 10,807 shares of the CRM provider’s stock worth $2,958,000 after acquiring an additional 88 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in shares of Salesforce by 7.9% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 78,019 shares of the CRM provider’s stock valued at $21,355,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Salesforce by 5.1% during the third quarter. Brooklyn Investment Group now owns 7,167 shares of the CRM provider’s stock valued at $1,962,000 after purchasing an additional 346 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $288.59 on Wednesday. The firm has a 50 day simple moving average of $312.15 and a two-hundred day simple moving average of $310.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $277.33 billion, a PE ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 1,785 shares of Salesforce 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 transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock worth $14,194,689. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRM. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Macquarie reissued a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

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