Skandinaviska Enskilda Banken AB publ Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 78.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 695,672 shares of the CRM provider's stock after purchasing an additional 305,368 shares during the quarter. Salesforce accounts for 1.1% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 16th largest holding. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Salesforce worth $233,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock worth $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after acquiring an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock worth $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

NYSE:CRM traded down $13.64 during trading hours on Thursday, reaching $270.94. 9,487,875 shares of the company traded hands, compared to its average volume of 7,138,556. The firm's 50-day moving average is $319.09 and its 200-day moving average is $308.60. The stock has a market cap of $260.37 billion, a P/E ratio of 44.56, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Scotiabank decreased their target price on Salesforce from $440.00 to $400.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Finally, Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to 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.