Salesforce, Inc. (NYSE:CRM) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 78.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 695,672 shares of the CRM provider’s stock after buying an additional 305,368 shares during the period. Salesforce accounts for 1.1% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 16th largest position. Skandinaviska Enskilda Banken AB publ’s holdings in Salesforce were worth $233,565,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CRM. Erste Asset Management GmbH raised its position in Salesforce by 27.8% in the fourth quarter. Erste Asset Management GmbH now owns 239,200 shares of the CRM provider’s stock valued at $80,808,000 after purchasing an additional 52,081 shares during the period. Achmea Investment Management B.V. increased its position in shares of Salesforce by 4.3% in the 4th quarter. Achmea Investment Management B.V. now owns 104,110 shares of the CRM provider’s stock valued at $34,807,000 after purchasing an additional 4,278 shares during the last quarter. Telemark Asset Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $6,687,000. ANTIPODES PARTNERS Ltd acquired a new position in Salesforce in the fourth quarter valued at approximately $43,241,000. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of Salesforce by 10.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 518 shares of the CRM provider’s stock valued at $173,000 after buying an additional 51 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 2.8 %

Shares of CRM opened at $284.88 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $273.77 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average price is $320.28 and its 200-day moving average price is $308.86. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Analysts Set New Price Targets

A number of research firms have commented on CRM. BMO Capital Markets dropped their price objective on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Guggenheim restated a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler reduced their target price on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson lowered their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company 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 issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce 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 of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 over the last three months. 3.20% of the stock is currently 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.