AMF Tjanstepension AB Has $397.89 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

AMF Tjanstepension AB reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,189,931 shares of the CRM provider’s stock after selling 238,321 shares during the period. Salesforce comprises 2.8% of AMF Tjanstepension AB’s investment portfolio, making the stock its 7th largest holding. AMF Tjanstepension AB owned approximately 0.12% of Salesforce worth $397,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter valued at approximately $31,000. Finally, Collier Financial bought a new position in Salesforce during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robin L. Washington bought 1,695 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $282.74 on Friday. The stock has a 50 day moving average of $323.68 and a 200 day moving average of $308.18. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for 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 company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Piper Sandler reduced their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. DA Davidson dropped their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

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.