Elo Mutual Pension Insurance Co Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Elo Mutual Pension Insurance Co decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 87,243 shares of the CRM provider’s stock after selling 4,850 shares during the period. Salesforce makes up about 0.6% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 25th biggest position. Elo Mutual Pension Insurance Co’s holdings in Salesforce were worth $29,168,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC increased 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 buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter worth $30,000. Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter valued at $31,000. Finally, Collier Financial acquired a new position in Salesforce during the 4th quarter worth $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $280.93 on Thursday. The stock has a market cap of $269.97 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $311.35 and a 200-day simple moving average of $310.74.

Insider Buying and Selling at Salesforce

In other news, CEO Brian Millham sold 3,937 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at $1,570,312.44. The trade was a 41.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,875 shares of company stock valued at $13,580,649 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Oppenheimer reduced their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group upped their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.