Erste Asset Management GmbH Has $80.81 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Erste Asset Management GmbH lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,200 shares of the CRM provider's stock after acquiring an additional 52,081 shares during the period. Salesforce comprises approximately 1.0% of Erste Asset Management GmbH's holdings, making the stock its 20th largest position. Erste Asset Management GmbH's holdings in Salesforce were worth $80,808,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the fourth quarter worth $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 317,105 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Company insiders own 3.20% of the company's stock.

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Salesforce Stock Performance

Shares of CRM traded down $13.64 during midday trading on Thursday, reaching $270.94. 9,487,875 shares of the stock were exchanged, compared to its average volume of 7,138,556. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $260.37 billion, a P/E ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. The stock's 50 day simple moving average is $319.09 and its 200 day simple moving average is $308.60.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CRM shares. DA Davidson reduced their price objective on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Robert W. Baird reduced their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Two investment 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $365.62.

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.