Sava Infond d.o.o. Makes New $16.30 Million Investment in Salesforce, Inc. (NYSE:CRM)

Sava Infond d.o.o. purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 48,750 shares of the CRM provider’s stock, valued at approximately $16,299,000. Salesforce comprises about 2.9% of Sava Infond d.o.o.’s portfolio, making the stock its 11th biggest position.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in Salesforce by 1.8% in 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 acquiring an additional 864,193 shares during the period. Geode Capital Management LLC increased its holdings 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 purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC raised its position in 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 purchasing an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $280.93 on Thursday. The company has a market cap of $269.97 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $311.35 and its two-hundred day simple moving average is $310.74. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,875 shares of company stock valued at $13,580,649. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRM shares. Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Guggenheim reissued a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $362.74.

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.