Great Valley Advisor Group Inc. grew its stake in shares of salesforce.com, inc. (NYSE:CRM) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,813 shares of the CRM provider’s stock after buying an additional 294 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in salesforce.com were worth $921,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its holdings in shares of salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after purchasing an additional 2,398,648 shares during the period. BlackRock Inc. increased its position in shares of salesforce.com by 9.2% during the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after acquiring an additional 4,321,630 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of salesforce.com by 29,364.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after acquiring an additional 21,642,889 shares in the last quarter. Jennison Associates LLC increased its position in shares of salesforce.com by 18.3% during the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after acquiring an additional 3,041,293 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of salesforce.com by 2.0% during the third quarter. Morgan Stanley now owns 14,792,319 shares of the CRM provider’s stock worth $2,352,421,000 after acquiring an additional 296,317 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CRM stock traded up $1.86 on Wednesday, hitting $157.64. 2,948,152 shares of the company’s stock traded hands, compared to its average volume of 5,144,550. The firm has a market cap of $119.14 billion, a P/E ratio of 108.72, a P/E/G ratio of 5.70 and a beta of 1.37. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same quarter last year, the firm earned $0.35 EPS. As a group, analysts forecast that salesforce.com, inc. will post 1.18 EPS for the current year.
Several research firms have recently commented on CRM. Bank of America reissued a “buy” rating and set a $200.00 target price (up from $181.00) on shares of salesforce.com in a research report on Wednesday, February 27th. Mizuho began coverage on shares of salesforce.com in a research report on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a research report on Wednesday, April 17th. Macquarie upped their price objective on shares of salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Co upped their price objective on shares of salesforce.com from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $177.82.
In other news, Director Craig Conway sold 200 shares of salesforce.com stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $153.00, for a total value of $30,600.00. Following the completion of the sale, the director now directly owns 9,110 shares in the company, valued at $1,393,830. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $160.07, for a total transaction of $1,600,700.00. The disclosure for this sale can be found here. Insiders sold 454,325 shares of company stock valued at $72,540,249 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.
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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