SPC Financial Inc. acquired a new position in salesforce.com, inc. (NYSE:CRM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,662 shares of the CRM provider’s stock, valued at approximately $897,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Avondale Wealth Management grew its position in shares of salesforce.com by 100.0% during the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after acquiring an additional 80 shares during the period. CX Institutional lifted its stake in shares of salesforce.com by 426.5% during the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after buying an additional 145 shares in the last quarter. Brand Asset Management Group Inc. purchased a new stake in shares of salesforce.com during the 1st quarter valued at approximately $30,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of salesforce.com during the 4th quarter valued at approximately $28,000. Finally, Asset Dedication LLC lifted its stake in shares of salesforce.com by 45.3% during the 1st quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock valued at $35,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.
In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $160.07, for a total value of $1,600,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark J. Hawkins sold 8,221 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $160.99, for a total transaction of $1,323,498.79. Following the completion of the transaction, the insider now owns 24,278 shares of the company’s stock, valued at $3,908,515.22. The disclosure for this sale can be found here. Insiders have sold 454,325 shares of company stock valued at $72,540,249 over the last 90 days. 5.50% of the stock is currently owned by company insiders.
Shares of CRM stock traded up $1.86 during trading hours on Wednesday, reaching $157.64. The company had a trading volume of 2,948,152 shares, compared to its average volume of 5,144,550. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $119.14 billion, a PE 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.
salesforce.com (NYSE:CRM) last announced its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The company had revenue of $3.60 billion during 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 period in the previous year, the business posted $0.35 earnings per share. Analysts anticipate that salesforce.com, inc. will post 1.18 earnings per share for the current year.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Bank of America reiterated a “buy” rating and issued a $200.00 target price on shares of salesforce.com in a research note on Monday. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a research note on Wednesday, April 17th. Robert W. Baird increased their target price on shares of salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Mizuho initiated coverage on shares of salesforce.com in a research report on Wednesday, March 13th. They set a “buy” rating and a $185.00 price objective on the stock. Three analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and an average target price of $177.82.
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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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