Mitsubishi UFJ Asset Management Co. Ltd. Acquires 111,985 Shares of Salesforce, Inc. (NYSE:CRM)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,632,935 shares of the CRM provider’s stock after acquiring an additional 111,985 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Salesforce worth $543,604,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CRM. Korea Investment CORP raised its holdings in Salesforce by 1.2% during the 4th quarter. Korea Investment CORP now owns 787,623 shares of the CRM provider’s stock valued at $263,326,000 after buying an additional 8,992 shares during the period. Aviso Wealth Management raised its holdings in shares of Salesforce by 2.8% in the fourth quarter. Aviso Wealth Management now owns 2,698 shares of the CRM provider’s stock valued at $902,000 after acquiring an additional 73 shares in the last quarter. Graney & King LLC purchased a new position in Salesforce during the fourth quarter valued at approximately $54,000. Banco BTG Pactual S.A. raised its position in shares of Salesforce by 442.6% in the 4th quarter. Banco BTG Pactual S.A. now owns 6,847 shares of the CRM provider’s stock worth $2,264,000 after acquiring an additional 5,585 shares in the last quarter. Finally, Parametrica Management Ltd lifted its position in shares of Salesforce by 36.9% during the fourth quarter. Parametrica Management Ltd now owns 9,172 shares of the CRM provider’s stock valued at $3,066,000 after buying an additional 2,472 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $280.93 on Thursday. The stock has a market capitalization of $269.97 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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. The company has a 50-day simple moving average of $311.35 and a two-hundred day simple moving average of $310.74.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,875 shares of company stock valued at $13,580,649 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRM. Stephens started coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $362.74.

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.