OVERSEA CHINESE BANKING Corp Ltd Has $49.31 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Salesforce, Inc. (NYSE:CRM) by 20.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 147,211 shares of the CRM provider’s stock after selling 37,953 shares during the period. Salesforce makes up 1.4% of OVERSEA CHINESE BANKING Corp Ltd’s portfolio, making the stock its 14th largest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Salesforce were worth $49,314,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at about $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRM. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.14.

Salesforce Stock Performance

CRM opened at $278.98 on Wednesday. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $268.10 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business’s fifty day moving average is $316.13 and its 200-day moving average is $309.71.

Insider Buying and Selling

In other news, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,609 shares of company stock valued at $24,920,821 over the last quarter. 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.