OVERSEA CHINESE BANKING Corp Ltd Has $49.31 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

OVERSEA CHINESE BANKING Corp Ltd cut its position in Salesforce, Inc. (NYSE:CRM) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,211 shares of the CRM provider’s stock after selling 37,953 shares during the quarter. Salesforce makes up about 1.4% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 14th biggest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Salesforce were worth $49,314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC increased 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 purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the 4th quarter worth approximately $31,000. Collier Financial acquired a new position in shares of Salesforce during the fourth quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $278.98 on Wednesday. The firm has a 50 day simple moving average of $316.13 and a 200 day simple moving average of $309.71. 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 current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction on Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at $987,087,239.95. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,609 shares of company stock valued at $24,920,821. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group upped their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BMO Capital Markets lowered their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $364.14.

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.