Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,695 shares of the CRM provider’s stock after purchasing an additional 1,859 shares during the period. Salesforce comprises approximately 1.2% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 15th largest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Salesforce were worth $33,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. State Street Corp raised its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,669 shares of company stock worth $383,286,905 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup lifted their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. DA Davidson upped their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group increased their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Down 0.5 %

CRM stock opened at $341.80 on Friday. The business’s 50-day moving average price is $338.67 and its 200-day moving average price is $297.37. The stock has a market cap of $327.10 billion, a P/E ratio of 56.22, a PEG ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 earnings per share. On average, equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio is presently 26.32%.

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.