Ilmarinen Mutual Pension Insurance Co boosted its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 6.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the CRM provider’s stock after purchasing an additional 5,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Salesforce were worth $15,982,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in Salesforce by 132.8% in the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares during the period. GHP Investment Advisors Inc. lifted its position in Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares during the period. Live Oak Investment Partners acquired a new stake in Salesforce in the fourth quarter worth approximately $36,000. Delta Asset Management LLC TN acquired a new stake in Salesforce in the fourth quarter worth approximately $39,000. Finally, HBC Financial Services PLLC lifted its position in Salesforce by 350.0% in the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after purchasing an additional 175 shares during the period. 77.52% of the stock is currently owned by institutional investors and hedge funds.
Salesforce Trading Down 1.6 %
Shares of NYSE:CRM opened at $221.65 on Wednesday. The company has a market cap of $215.67 billion, a P/E ratio of 139.40, a P/E/G ratio of 1.68 and a beta of 1.19. The stock’s 50-day moving average is $217.87 and its 200-day moving average is $205.57. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $238.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02.
Analysts Set New Price Targets
CRM has been the subject of a number of recent research reports. Roth Mkm increased their price objective on Salesforce from $242.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Oppenheimer increased their price objective on Salesforce from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Wedbush increased their price objective on Salesforce from $240.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Loop Capital increased their price objective on Salesforce from $215.00 to $230.00 and gave the company a “hold” rating in a research report on Thursday, August 31st. Finally, Societe Generale downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $239.86.
View Our Latest Research Report on CRM
Insider Buying and Selling
In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $224.81, for a total transaction of $3,372,150.00. Following the sale, the chief executive officer now directly owns 15,846,166 shares of the company’s stock, valued at $3,562,376,578.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $224.81, for a total transaction of $3,372,150.00. Following the sale, the chief executive officer now directly owns 15,846,166 shares of the company’s stock, valued at $3,562,376,578.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $208.65, for a total value of $260,812.50. Following the sale, the insider now directly owns 100,309 shares in the company, valued at $20,929,472.85. The disclosure for this sale can be found here. Insiders have sold a total of 707,472 shares of company stock valued at $154,064,224 over the last three months. 3.70% of the stock is owned by corporate insiders.
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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.
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