Tokio Marine Asset Management Co. Ltd. Purchases 1,072 Shares of Salesforce, Inc. (NYSE:CRM)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,836 shares of the CRM provider’s stock after buying an additional 1,072 shares during the quarter. Salesforce comprises approximately 1.2% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 14th biggest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Salesforce were worth $27,052,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CRM. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the 2nd quarter valued at $33,000. Finally, Stephens Consulting LLC raised its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CRM. Citigroup boosted their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $318.23.

Salesforce Stock Performance

CRM stock traded down $8.17 during mid-day trading on Thursday, hitting $333.55. 1,180,195 shares of the company were exchanged, compared to its average volume of 6,286,773. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The business has a 50 day simple moving average of $283.28 and a 200-day simple moving average of $265.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $318.87 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company posted $1.63 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insiders Place Their Bets

In related news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at $202,702.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock worth $41,250,680 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.