Shell Asset Management Co. lowered its stake in shares of salesforce.com, inc. (NYSE:CRM) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,335 shares of the CRM provider’s stock after selling 6,163 shares during the quarter. Shell Asset Management Co.’s holdings in salesforce.com were worth $8,687,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Cornerstone Wealth Group LLC increased its position in shares of salesforce.com by 36.4% during the first quarter. Cornerstone Wealth Group LLC now owns 9,800 shares of the CRM provider’s stock worth $1,411,000 after acquiring an additional 2,616 shares during the period. National Asset Management Inc. increased its holdings in salesforce.com by 2.4% in the first quarter. National Asset Management Inc. now owns 12,258 shares of the CRM provider’s stock valued at $1,766,000 after buying an additional 282 shares during the last quarter. Gamble Jones Investment Counsel increased its holdings in salesforce.com by 45.9% in the first quarter. Gamble Jones Investment Counsel now owns 2,385 shares of the CRM provider’s stock valued at $343,000 after buying an additional 750 shares during the last quarter. Frisch Financial Group Inc. purchased a new position in salesforce.com in the first quarter valued at $318,000. Finally, Toroso Investments LLC increased its holdings in salesforce.com by 41.6% in the first quarter. Toroso Investments LLC now owns 5,705 shares of the CRM provider’s stock valued at $821,000 after buying an additional 1,677 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.
salesforce.com stock traded up $2.59 during mid-day trading on Friday, reaching $177.85. The company had a trading volume of 4,963,328 shares, compared to its average volume of 6,068,004. salesforce.com, inc. has a 1 year low of $115.29 and a 1 year high of $195.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $157.54 billion, a P/E ratio of 889.29, a P/E/G ratio of 7.99 and a beta of 1.07. The stock’s 50-day simple moving average is $159.26 and its 200-day simple moving average is $165.63.
salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, February 25th. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10. salesforce.com had a net margin of 0.74% and a return on equity of 3.61%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the company posted $0.70 earnings per share. On average, equities analysts forecast that salesforce.com, inc. will post 1.22 EPS for the current fiscal year.
In other news, CFO Mark J. Hawkins sold 876 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $178.54, for a total transaction of $156,401.04. Following the completion of the transaction, the chief financial officer now directly owns 15,279 shares of the company’s stock, valued at approximately $2,727,912.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $126.00, for a total transaction of $1,260,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 413,535 shares of company stock valued at $65,708,070. 4.40% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on CRM shares. Rosenblatt Securities started coverage on salesforce.com in a report on Monday, May 4th. They issued a “sell” rating on the stock. Wedbush decreased their price objective on shares of salesforce.com from $217.00 to $184.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group restated a “buy” rating and issued a $205.00 price objective on shares of salesforce.com in a research note on Tuesday. Mizuho upped their price objective on shares of salesforce.com from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price objective on shares of salesforce.com from $230.00 to $210.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $198.69.
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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