Bard Financial Services Inc. acquired a new stake in salesforce.com, inc. (NYSE:CRM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,710 shares of the CRM provider’s stock, valued at approximately $1,048,000.
Several other hedge funds have also recently added to or reduced their stakes in CRM. Norges Bank purchased a new stake in salesforce.com in the fourth quarter valued at approximately $2,202,604,000. Morgan Stanley boosted its holdings in salesforce.com by 13.8% in the fourth quarter. Morgan Stanley now owns 13,886,700 shares of the CRM provider’s stock valued at $3,090,207,000 after acquiring an additional 1,680,084 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of salesforce.com by 1.9% during the 4th quarter. BlackRock Inc. now owns 65,415,954 shares of the CRM provider’s stock valued at $14,557,012,000 after buying an additional 1,217,637 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in shares of salesforce.com by 333.6% during the 4th quarter. Flossbach Von Storch AG now owns 1,432,152 shares of the CRM provider’s stock valued at $318,697,000 after buying an additional 1,101,836 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in shares of salesforce.com during the 4th quarter valued at $206,406,000. Institutional investors own 80.20% of the company’s stock.
In other salesforce.com news, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction on Monday, February 8th. The stock was sold at an average price of $239.70, for a total value of $1,198,500.00. Following the sale, the insider now owns 51,242 shares in the company, valued at $12,282,707.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $220.48, for a total value of $948,064.00. Following the completion of the sale, the insider now owns 70,634 shares in the company, valued at approximately $15,573,384.32. The disclosure for this sale can be found here. Insiders sold 73,330 shares of company stock worth $16,256,366 in the last 90 days. Company insiders own 4.40% of the company’s stock.
NYSE CRM opened at $220.79 on Thursday. The stock’s fifty day moving average is $218.94 and its two-hundred day moving average is $233.22. The firm has a market capitalization of $203.35 billion, a P/E ratio of 57.65, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22. salesforce.com, inc. has a fifty-two week low of $145.00 and a fifty-two week high of $284.50.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, February 25th. The CRM provider reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.74. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.68 billion. As a group, sell-side analysts forecast that salesforce.com, inc. will post 2.81 EPS for the current year.
A number of equities analysts have weighed in on CRM shares. UBS Group reissued a “buy” rating and issued a $280.00 target price on shares of salesforce.com in a research report on Tuesday, March 16th. Barclays set a $276.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Wednesday, December 9th. Loop Capital upgraded salesforce.com from a “sell” rating to a “hold” rating and set a $225.00 price target for the company in a research note on Monday, January 25th. Credit Suisse Group initiated coverage on salesforce.com in a research note on Tuesday, March 16th. They issued an “outperform” rating and a $260.00 price target for the company. Finally, Zacks Investment Research downgraded salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 price target for the company. in a research note on Monday, March 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $269.03.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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