Salesforce, Inc. (NYSE:CRM) Shares Sold by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. reduced its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,109 shares of the CRM provider’s stock after selling 1,888 shares during the period. Salesforce makes up approximately 2.0% of Asahi Life Asset Management CO. LTD.’s investment portfolio, making the stock its 16th biggest holding. Asahi Life Asset Management CO. LTD.’s holdings in Salesforce were worth $6,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Salesforce by 506.1% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock worth $29,000 after buying an additional 167 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Salesforce by 113.4% during the third quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. TimeScale Financial Inc. raised its holdings in shares of Salesforce by 576.9% during the third quarter. TimeScale Financial Inc. now owns 264 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 225 shares during the last quarter. HBC Financial Services PLLC raised its holdings in shares of Salesforce by 350.0% during 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 last quarter. Finally, Hoey Investments Inc. purchased a new position in shares of Salesforce during the second quarter worth $41,000. 75.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Loop Capital reduced their target price on shares of Salesforce from $150.00 to $140.00 in a report on Thursday, January 5th. Cowen cut shares of Salesforce from an “outperform” rating to a “market perform” rating in a report on Friday, January 20th. Northland Securities began coverage on shares of Salesforce in a report on Monday, October 17th. They issued a “market perform” rating and a $150.00 price objective for the company. Wedbush cut their price objective on shares of Salesforce from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, December 1st. Finally, Canaccord Genuity Group cut their price objective on shares of Salesforce from $215.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.81.

Salesforce Stock Down 2.7 %

Shares of NYSE:CRM traded down $4.16 during trading hours on Wednesday, reaching $150.70. The stock had a trading volume of 1,554,878 shares, compared to its average volume of 9,768,773. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $234.49. The firm’s 50 day moving average is $141.15 and its 200-day moving average is $155.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $150.70 billion, a price-to-earnings ratio of 553.07, a P/E/G ratio of 3.91 and a beta of 1.15.

Salesforce (NYSE:CRMGet Rating) last announced its quarterly earnings data on Wednesday, November 30th. The CRM provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.15. Salesforce had a net margin of 0.92% and a return on equity of 3.21%. The company had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.83 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $118,780.20. Following the completion of the transaction, the chief financial officer now owns 32,807 shares in the company, valued at approximately $4,217,339.85. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Amy E. Weaver sold 556 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total value of $86,508.04. Following the completion of the transaction, the chief financial officer now owns 33,265 shares in the company, valued at approximately $5,175,701.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total transaction of $118,780.20. Following the completion of the transaction, the chief financial officer now owns 32,807 shares of the company’s stock, valued at approximately $4,217,339.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,864 shares of company stock worth $24,850,039. Corporate insiders own 3.60% of the company’s stock.

Salesforce Company Profile

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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