Salesforce, Inc. (NYSE:CRM) Position Lowered by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. reduced its position in Salesforce, Inc. (NYSE:CRM) by 97.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 190 shares of the CRM provider’s stock after selling 7,900 shares during the period. Salesforce accounts for approximately 1.0% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 24th biggest holding. Mizuho Securities Co. Ltd.’s holdings in Salesforce were worth $64,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock valued at $14,194,689. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $288.59 on Wednesday. The firm has a 50 day moving average of $312.15 and a two-hundred day moving average of $310.95. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRM shares. DA Davidson cut their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. The Goldman Sachs Group upped their price target 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. Loop Capital lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Barclays lifted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.