Beaumont Financial Partners LLC boosted its position in salesforce.com, inc. (NYSE:CRM) by 32.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,837 shares of the CRM provider’s stock after buying an additional 453 shares during the period. Beaumont Financial Partners LLC’s holdings in salesforce.com were worth $299,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock worth $8,521,967,000 after acquiring an additional 2,499,996 shares in the last quarter. Ingalls & Snyder LLC increased its position in shares of salesforce.com by 3.1% during the third quarter. Ingalls & Snyder LLC now owns 2,900 shares of the CRM provider’s stock worth $430,000 after acquiring an additional 87 shares in the last quarter. Strategic Blueprint LLC bought a new stake in shares of salesforce.com during the third quarter worth about $30,000. Meeder Asset Management Inc. increased its position in shares of salesforce.com by 26.8% during the third quarter. Meeder Asset Management Inc. now owns 2,360 shares of the CRM provider’s stock worth $351,000 after acquiring an additional 499 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of salesforce.com by 7.7% during the third quarter. Nisa Investment Advisors LLC now owns 214,608 shares of the CRM provider’s stock worth $31,856,000 after acquiring an additional 15,354 shares in the last quarter. Institutional investors and hedge funds own 80.45% of the company’s stock.
Several equities research analysts have recently commented on the stock. Cowen reissued a “buy” rating and set a $195.00 target price on shares of salesforce.com in a research report on Wednesday, December 4th. Oppenheimer boosted their target price on shares of salesforce.com from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Robert W. Baird reissued a “buy” rating and set a $185.00 target price on shares of salesforce.com in a research report on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating on shares of salesforce.com in a research report on Tuesday, January 7th. Finally, Piper Jaffray Companies assumed coverage on shares of salesforce.com in a research report on Wednesday, November 13th. They set an “overweight” rating and a $190.00 target price for the company. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. salesforce.com has an average rating of “Buy” and an average target price of $195.49.
In other news, CEO Marc Benioff sold 5,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $162.88, for a total value of $814,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark J. Hawkins sold 876 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $189.71, for a total transaction of $166,185.96. Following the completion of the transaction, the chief financial officer now directly owns 18,161 shares in the company, valued at approximately $3,445,323.31. The disclosure for this sale can be found here. Insiders sold a total of 470,128 shares of company stock worth $79,779,248 over the last quarter. Corporate insiders own 5.50% of the company’s stock.
NYSE CRM opened at $189.95 on Friday. salesforce.com, inc. has a 1 year low of $137.87 and a 1 year high of $192.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $167.75 billion, a PE ratio of 202.07, a P/E/G ratio of 8.11 and a beta of 1.19. The company’s 50 day simple moving average is $179.08 and its two-hundred day simple moving average is $160.13.
salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. salesforce.com had a net margin of 4.64% and a return on equity of 5.37%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, research analysts anticipate that salesforce.com, inc. will post 1.28 EPS for the current year.
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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