Asset Management Corp IL ADV lifted its stake in salesforce.com, inc. (NYSE:CRM) by 57.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,227 shares of the CRM provider’s stock after acquiring an additional 2,625 shares during the period. salesforce.com accounts for approximately 0.7% of Asset Management Corp IL ADV’s portfolio, making the stock its 27th biggest position. Asset Management Corp IL ADV’s holdings in salesforce.com were worth $1,531,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aspiriant LLC grew its position in salesforce.com by 12.4% during the 4th quarter. Aspiriant LLC now owns 12,871 shares of the CRM provider’s stock worth $2,865,000 after purchasing an additional 1,418 shares during the last quarter. Ossiam lifted its stake in shares of salesforce.com by 5.4% in the 4th quarter. Ossiam now owns 277,920 shares of the CRM provider’s stock worth $61,846,000 after acquiring an additional 14,334 shares during the period. Deltec Asset Management LLC lifted its stake in shares of salesforce.com by 8.0% in the 4th quarter. Deltec Asset Management LLC now owns 38,180 shares of the CRM provider’s stock worth $8,496,000 after acquiring an additional 2,830 shares during the period. Deccan Value Investors L.P. lifted its stake in shares of salesforce.com by 21.5% in the fourth quarter. Deccan Value Investors L.P. now owns 1,205,400 shares of the CRM provider’s stock valued at $268,238,000 after purchasing an additional 212,900 shares during the period. Finally, Personal CFO Solutions LLC lifted its stake in shares of salesforce.com by 21.4% in the first quarter. Personal CFO Solutions LLC now owns 7,758 shares of the CRM provider’s stock valued at $1,644,000 after purchasing an additional 1,366 shares during the period. 80.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CRM traded down $5.15 during mid-day trading on Wednesday, hitting $210.41. The company’s stock had a trading volume of 98,027 shares, compared to its average volume of 6,747,354. salesforce.com, inc. has a one year low of $164.57 and a one year high of $284.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $194.05 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. The stock’s 50-day moving average is $223.37 and its two-hundred day moving average is $228.99.
In related news, insider Srinivas Tallapragada sold 5,000 shares of the firm’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $213.00, for a total value of $1,065,000.00. Following the completion of the transaction, the insider now directly owns 51,242 shares of the company’s stock, valued at $10,914,546. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,300 shares of the firm’s stock in a transaction on Tuesday, March 30th. The stock was sold at an average price of $209.53, for a total value of $900,979.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,335 shares of company stock valued at $39,205,206. 4.40% of the stock is owned by company insiders.
Several equities analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of salesforce.com from a “buy” rating to a “conviction-buy” rating and set a $315.00 target price for the company in a report on Monday, March 8th. Sanford C. Bernstein set a $233.00 price target on shares of salesforce.com and gave the stock a “neutral” rating in a report on Friday, February 26th. Bank of America restated a “buy” rating and issued a $300.00 target price on shares of salesforce.com in a report on Monday, February 22nd. TheStreet upgraded shares of salesforce.com from a “c+” rating to a “b-” rating in a report on Monday, April 26th. Finally, UBS Group restated a “buy” rating and issued a $280.00 target price on shares of salesforce.com in a report on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $269.06.
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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