Salesforce, Inc. (NYSE:CRM) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its stake in Salesforce, Inc. (NYSE:CRM) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,243 shares of the CRM provider’s stock after selling 4,850 shares during the period. Salesforce makes up approximately 0.6% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 25th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Salesforce were worth $29,168,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WINTON GROUP Ltd acquired a new position in Salesforce in the 4th quarter valued at $2,354,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Salesforce by 7.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,632,935 shares of the CRM provider’s stock worth $543,604,000 after acquiring an additional 111,985 shares during the period. Korea Investment CORP raised its holdings in Salesforce by 1.2% during the fourth quarter. Korea Investment CORP now owns 787,623 shares of the CRM provider’s stock worth $263,326,000 after purchasing an additional 8,992 shares in the last quarter. Aviso Wealth Management lifted its position in 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 purchasing an additional 73 shares during the period. Finally, Graney & King LLC purchased a new stake in Salesforce in the 4th quarter valued at approximately $54,000. 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 business’s fifty day moving average price is $311.35 and its 200 day moving average price is $310.74. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $269.97 billion, a P/E ratio of 46.21, a PEG ratio of 2.58 and a beta of 1.35.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,875 shares of company stock valued at $13,580,649 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.