JustInvest LLC grew its stake in salesforce.com, inc. (NYSE:CRM) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,489 shares of the CRM provider’s stock after purchasing an additional 769 shares during the period. JustInvest LLC’s holdings in salesforce.com were worth $2,010,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its position in salesforce.com by 1.9% in the 4th quarter. BlackRock Inc. now owns 65,415,954 shares of the CRM provider’s stock worth $14,557,012,000 after purchasing an additional 1,217,637 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in salesforce.com by 2.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,846,031 shares of the CRM provider’s stock worth $10,193,453,000 after purchasing an additional 876,975 shares during the last quarter. Morgan Stanley grew its position in salesforce.com by 13.8% in the 4th quarter. Morgan Stanley now owns 13,886,700 shares of the CRM provider’s stock worth $3,090,207,000 after purchasing an additional 1,680,084 shares during the last quarter. Fisher Asset Management LLC grew its position in salesforce.com by 3.7% in the 1st quarter. Fisher Asset Management LLC now owns 12,952,985 shares of the CRM provider’s stock worth $2,744,349,000 after purchasing an additional 460,821 shares during the last quarter. Finally, Norges Bank acquired a new stake in salesforce.com in the 4th quarter worth $2,202,604,000. Institutional investors own 80.20% of the company’s stock.
salesforce.com stock traded down $8.31 during mid-day trading on Tuesday, hitting $215.45. 108,332 shares of the stock were exchanged, compared to its average volume of 6,852,737. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.07. salesforce.com, inc. has a 12 month low of $155.08 and a 12 month high of $284.50. The firm’s fifty day simple moving average is $222.59 and its two-hundred day simple moving average is $230.51. The stock has a market capitalization of $198.43 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 5.42 and a beta of 1.17.
Several analysts have recently weighed in on CRM shares. Macquarie lifted their target price on shares of salesforce.com from $252.00 to $273.00 and gave the company an “outperform” rating in a research report on Friday, February 26th. The Goldman Sachs Group raised shares of salesforce.com from a “buy” rating to a “conviction-buy” rating and set a $315.00 price target for the company in a research note on Monday, March 8th. TheStreet upgraded shares of salesforce.com from a “c+” rating to a “b-” rating in a report on Monday, April 26th. Bank of America restated a “buy” rating and set a $300.00 price objective on shares of salesforce.com in a report on Monday, February 22nd. Finally, Credit Suisse Group assumed coverage on shares of salesforce.com in a report on Monday, April 5th. They set an “outperform” rating and a $260.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $269.06.
In other news, insider Brent Hyder sold 1,189 shares of salesforce.com stock in a transaction on Monday, April 26th. The shares were sold at an average price of $234.04, for a total value of $278,273.56. Following the completion of the sale, the insider now owns 1,510 shares in the company, valued at approximately $353,400.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction on Monday, February 8th. The shares were sold at an average price of $239.70, for a total transaction of $1,198,500.00. Following the completion of the sale, the insider now owns 51,242 shares of the company’s stock, valued at approximately $12,282,707.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,736 shares of company stock valued at $36,924,076. Company insiders own 4.40% of the company’s stock.
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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