Tokio Marine Asset Management Co. Ltd. Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Tokio Marine Asset Management Co. Ltd. reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,292 shares of the CRM provider’s stock after selling 239 shares during the quarter. Salesforce accounts for 1.4% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 14th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Salesforce were worth $25,865,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter valued at $31,000. Pacifica Partners Inc. raised its holdings in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $34,000. Finally, AlphaMark Advisors LLC raised its holdings in Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

CRM traded down $0.49 on Wednesday, reaching $276.19. The company had a trading volume of 3,934,969 shares, compared to its average volume of 5,697,396. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $296.65 and a 200-day moving average of $263.37. The company has a market capitalization of $267.90 billion, a P/E ratio of 65.76, a PEG ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Activity

In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the transaction, the insider now owns 60,416 shares in the company, valued at approximately $17,104,977.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 616,589 shares of company stock worth $181,071,306. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Thursday, March 7th. BMO Capital Markets upped their price target on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Wolfe Research reissued an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Finally, Robert W. Baird increased their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.61.

About Salesforce

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.