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

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,632,935 shares of the CRM provider’s stock after purchasing an additional 111,985 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Salesforce were worth $543,604,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its holdings in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after buying an additional 153,500 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value 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 represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,875 shares of company stock worth $13,580,649 in the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 2.7 %

Shares of NYSE CRM opened at $280.93 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm’s 50-day moving average is $311.35 and its two-hundred day moving average is $310.74. The company has a market capitalization of $269.97 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRM shares. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Loop Capital cut their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.