Shell Asset Management Co. cut its stake in shares of salesforce.com, inc. (NYSE:CRM) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,335 shares of the CRM provider’s stock after selling 6,163 shares during the period. Shell Asset Management Co.’s holdings in salesforce.com were worth $8,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. Candriam Luxembourg S.C.A. raised its holdings in shares of salesforce.com by 7.3% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 370,766 shares of the CRM provider’s stock worth $60,302,000 after buying an additional 25,353 shares during the period. RFG Advisory LLC purchased a new stake in shares of salesforce.com in the fourth quarter worth approximately $286,000. Davis R M Inc. raised its holdings in shares of salesforce.com by 11.9% in the fourth quarter. Davis R M Inc. now owns 2,486 shares of the CRM provider’s stock worth $404,000 after buying an additional 265 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of salesforce.com in the fourth quarter worth approximately $734,000. Finally, Chapman Investment Management LLC purchased a new stake in shares of salesforce.com in the fourth quarter worth approximately $2,934,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
Several brokerages have recently weighed in on CRM. Stifel Nicolaus increased their price target on salesforce.com from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Raymond James increased their price target on salesforce.com from $200.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. They noted that the move was a valuation call. Wedbush reduced their price objective on salesforce.com from $217.00 to $184.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Jefferies Financial Group restated a “buy” rating and set a $205.00 price objective on shares of salesforce.com in a report on Tuesday. Finally, Sanford C. Bernstein restated a “neutral” rating and set a $180.00 price objective on shares of salesforce.com in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $198.69.
In other salesforce.com news, CEO Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $183.92, for a total transaction of $1,839,200.00. Following the completion of the transaction, the chief executive officer now owns 60,901 shares in the company, valued at approximately $11,200,911.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexandre Dayon sold 848 shares of salesforce.com stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $183.35, for a total value of $155,480.80. Following the transaction, the insider now owns 73,436 shares of the company’s stock, valued at approximately $13,464,490.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 413,535 shares of company stock valued at $65,708,070. 4.40% of the stock is currently owned by insiders.
CRM traded up $2.59 on Friday, reaching $177.85. 4,963,328 shares of the stock were exchanged, compared to its average volume of 6,068,004. The company’s 50-day moving average price is $159.26 and its 200 day moving average price is $165.63. salesforce.com, inc. has a fifty-two week low of $115.29 and a fifty-two week high of $195.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $157.54 billion, a PE ratio of 889.29, a PEG ratio of 7.99 and a beta of 1.07.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, February 25th. The CRM provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. salesforce.com had a return on equity of 3.61% and a net margin of 0.74%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, equities analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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