Ilmarinen Mutual Pension Insurance Co Increases Position in Salesforce, Inc. (NYSE:CRM)

Ilmarinen Mutual Pension Insurance Co boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the CRM provider’s stock after purchasing an additional 50,000 shares during the quarter. Salesforce makes up 0.4% of Ilmarinen Mutual Pension Insurance Co’s holdings, making the stock its 25th largest position. Ilmarinen Mutual Pension Insurance Co’s holdings in Salesforce were worth $50,150,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Foundations Investment Advisors LLC increased its holdings in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the third quarter worth about $1,215,000. Athena Investment Management purchased a new position in Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $4,321,000. Finally, Geode Capital Management LLC raised its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Price Performance

Shares of NYSE:CRM opened at $240.26 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $230.89 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The company has a 50-day simple moving average of $302.46 and a 200-day simple moving average of $311.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. Salesforce’s dividend payout ratio is currently 26.10%.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction 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 directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 652 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by company insiders.

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.