Global Retirement Partners LLC decreased its stake in salesforce.com, inc. (NYSE:CRM) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,021 shares of the CRM provider’s stock after selling 201 shares during the quarter. Global Retirement Partners LLC’s holdings in salesforce.com were worth $954,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Vanguard Group Inc lifted 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 in the last quarter. Mycio Wealth Partners LLC lifted its holdings in salesforce.com by 2.5% in the fourth quarter. Mycio Wealth Partners LLC now owns 2,833 shares of the CRM provider’s stock valued at $388,000 after acquiring an additional 70 shares during the period. BB&T Corp lifted its holdings in salesforce.com by 5.6% in the fourth quarter. BB&T Corp now owns 30,916 shares of the CRM provider’s stock valued at $4,235,000 after acquiring an additional 1,639 shares during the period. IFP Advisors Inc lifted its holdings in salesforce.com by 96.7% in the fourth quarter. IFP Advisors Inc now owns 4,972 shares of the CRM provider’s stock valued at $670,000 after acquiring an additional 2,444 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in salesforce.com in the fourth quarter valued at about $15,211,000. Institutional investors and hedge funds own 82.14% of the company’s stock.
A number of brokerages have commented on CRM. Wedbush restated an “outperform” rating and issued a $192.00 price target on shares of salesforce.com in a research report on Friday, May 31st. Nomura restated a “buy” rating on shares of salesforce.com in a research report on Tuesday, May 28th. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price target (up previously from $175.00) on shares of salesforce.com in a research report on Tuesday, March 5th. Canaccord Genuity restated a “buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of salesforce.com in a research report on Wednesday, March 6th. Finally, Exane BNP Paribas began coverage on salesforce.com in a research report on Friday, March 29th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $180.03.
In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $151.14, for a total transaction of $1,511,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Joe Allanson sold 667 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $159.60, for a total value of $106,453.20. Following the transaction, the chief accounting officer now owns 31,633 shares of the company’s stock, valued at approximately $5,048,626.80. The disclosure for this sale can be found here. Insiders have sold a total of 426,279 shares of company stock valued at $67,663,581 in the last 90 days. 5.50% of the stock is currently owned by company insiders.
NYSE CRM traded down $1.33 during trading on Friday, hitting $150.01. 5,971,788 shares of the stock traded hands, compared to its average volume of 5,616,404. The stock has a market capitalization of $117.39 billion, a PE ratio of 103.46, a P/E/G ratio of 5.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, analysts anticipate that salesforce.com, inc. will post 1.34 EPS for the current fiscal year.
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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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