Zurcher Kantonalbank Zurich Cantonalbank Has $236.79 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 27.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708,260 shares of the CRM provider's stock after purchasing an additional 153,380 shares during the period. Salesforce makes up approximately 0.7% of Zurcher Kantonalbank Zurich Cantonalbank's investment portfolio, making the stock its 18th biggest position. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Salesforce worth $236,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings 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 valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 1.3% in 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 buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after buying an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CRM. Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Canaccord Genuity Group dropped their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. UBS Group boosted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Northland Securities reaffirmed an "outperform" rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Piper Sandler reduced their price target on Salesforce from $405.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.62.

Remove Ads

Salesforce Stock Performance

Shares of CRM opened at $282.74 on Monday. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $323.68 and a two-hundred day moving average price of $308.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company's stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate insiders.

Salesforce Company 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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.