Elo Mutual Pension Insurance Co Has $29.17 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Elo Mutual Pension Insurance Co lowered its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,243 shares of the CRM provider's stock after selling 4,850 shares during the quarter. Salesforce accounts for about 0.6% of Elo Mutual Pension Insurance Co's holdings, making the stock its 25th largest position. Elo Mutual Pension Insurance Co's holdings in Salesforce were worth $29,168,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in 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 last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter worth $31,000. Collier Financial acquired a new position in Salesforce during the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth approximately $27,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson cut their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group boosted their price target on Salesforce from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Scotiabank decreased their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Finally, BMO Capital Markets reissued 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 assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

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Insider Buying and Selling

In related news, insider Parker Harris sold 652 shares of the business's 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 transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Trading Down 2.8 %

Shares of CRM stock traded down $7.77 during trading hours on Friday, hitting $270.04. 4,972,275 shares of the company's stock traded hands, compared to its average volume of 6,642,995. The stock has a market cap of $259.51 billion, a PE ratio of 44.42, a price-to-earnings-growth 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. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock's 50 day simple moving average is $309.39 and its 200 day simple moving average is $311.13.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is 26.10%.

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.