Skandinaviska Enskilda Banken AB publ Purchases 305,368 Shares of Salesforce, Inc. (NYSE:CRM)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 78.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 695,672 shares of the CRM provider’s stock after acquiring an additional 305,368 shares during the period. Salesforce comprises approximately 1.1% of Skandinaviska Enskilda Banken AB publ’s holdings, making the stock its 16th largest holding. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Salesforce worth $233,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Bank grew its holdings in Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares during the last quarter. First Heartland Consultants Inc. lifted its position in shares of Salesforce by 36.6% during the third quarter. First Heartland Consultants Inc. now owns 1,851 shares of the CRM provider’s stock worth $507,000 after purchasing an additional 496 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of Salesforce by 24.0% in the third quarter. Aptus Capital Advisors LLC now owns 8,917 shares of the CRM provider’s stock valued at $2,441,000 after purchasing an additional 1,724 shares in the last quarter. RPG Investment Advisory LLC raised its position in Salesforce by 3.6% in the 3rd quarter. RPG Investment Advisory LLC now owns 38,101 shares of the CRM provider’s stock worth $10,429,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Dillon & Associates Inc. lifted its stake in shares of Salesforce by 3.1% during the third quarter. Dillon & Associates Inc. now owns 27,584 shares of the CRM provider’s stock valued at $7,558,000 after acquiring an additional 836 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 2.8 %

Shares of Salesforce stock opened at $284.88 on Thursday. The firm has a market cap 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 company has a 50-day moving average of $320.28 and a 200 day moving average of $308.86. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Insiders Place Their Bets

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated 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 directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRM shares. Jefferies Financial Group raised their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. UBS Group upped their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Guggenheim restated a “sell” rating and set a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Finally, BMO Capital Markets cut their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $365.62.

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.