Mitsubishi UFJ Asset Management Co. Ltd. Has $269.46 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

15 May 2024, 16:01 by Amy Steele · The Cerbat Gem

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,968 shares of the CRM provider’s stock after purchasing an additional 58,582 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Salesforce worth $269,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bear Mountain Capital Inc. acquired a new position in Salesforce in the 4th quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. Finally, Pacifica Partners Inc. raised its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 3.9 %

Shares of Salesforce stock traded up $10.80 during trading on Wednesday, hitting $287.60. 4,128,970 shares of the stock were exchanged, compared to its average volume of 5,397,225. The stock has a market cap of $278.40 billion, a price-to-earnings ratio of 67.48, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. The firm’s 50-day moving average price is $290.21 and its 200 day moving average price is $270.73. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling at Salesforce

In other news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $287.50, for a total transaction of $2,875,000.00. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,369,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the sale, the chief executive officer now owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $287.50, for a total value of $2,875,000.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,369,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 614,193 shares of company stock worth $178,772,048. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRM shares. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. BMO Capital Markets lifted their price objective on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

View Our Latest Stock Report on CRM

Salesforce Company Profile

(Free Report)

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.