Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Salesforce, Inc. (NYSE:CRM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Salesforce, Inc. (NYSE:CRM) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 708,260 shares of the CRM provider’s stock after purchasing an additional 153,380 shares during the period. Salesforce comprises approximately 0.7% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 18th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Salesforce were worth $236,793,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CRM. State Street Corp lifted its holdings in Salesforce by 1.8% during the third 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 lifted its stake 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 valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% in 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 buying an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after buying an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $1,632,599,000 after acquiring an additional 57,825 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.2 %

Shares of Salesforce stock opened at $282.74 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company’s 50 day moving average price is $323.68 and its 200-day moving average price is $308.84. The stock has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. BMO Capital Markets reduced their target price on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Macquarie decreased their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company cut their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % 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, Director Robin L. Washington purchased 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last quarter. Insiders own 3.20% of the company’s stock.

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.