Mizuho Securities Co. Ltd. Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Mizuho Securities Co. Ltd. trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 97.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190 shares of the CRM provider’s stock after selling 7,900 shares during the period. Salesforce comprises about 1.0% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 24th biggest position. Mizuho Securities Co. Ltd.’s holdings in Salesforce were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Financial Engines Advisors L.L.C. raised its holdings in Salesforce by 175.9% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 5,256 shares of the CRM provider’s stock worth $1,757,000 after purchasing an additional 3,351 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of Salesforce by 1.4% during the 4th quarter. Financial Counselors Inc. now owns 171,762 shares of the CRM provider’s stock worth $57,425,000 after buying an additional 2,439 shares during the last quarter. Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Salesforce in the 4th quarter worth about $934,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Salesforce in the 4th quarter worth about $253,000. Finally, Momentous Wealth Management Inc. purchased a new position in Salesforce during the 4th quarter valued at about $313,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CRM shares. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Morgan Stanley upped their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Bank of America dropped their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Oppenheimer reduced their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Performance

Salesforce stock opened at $288.59 on Wednesday. The firm has a market capitalization of $277.33 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock’s 50 day moving average price is $312.15 and its 200 day moving average price is $310.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Millham sold 3,937 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares of the company’s stock, valued at $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,194,689. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.