Buckingham Asset Management LLC grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 53.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,604 shares of the CRM provider’s stock after buying an additional 1,605 shares during the quarter. Buckingham Asset Management LLC’s holdings in salesforce.com were worth $749,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC lifted its holdings in salesforce.com by 93.8% in the 4th quarter. Sound Income Strategies LLC now owns 155 shares of the CRM provider’s stock worth $25,000 after buying an additional 75 shares during the period. OLD Second National Bank of Aurora grew its position in shares of salesforce.com by 115.6% in the 4th quarter. OLD Second National Bank of Aurora now owns 166 shares of the CRM provider’s stock worth $27,000 after buying an additional 89 shares during the last quarter. Investors Research Corp increased its stake in shares of salesforce.com by 159.1% during the third quarter. Investors Research Corp now owns 171 shares of the CRM provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Acima Private Wealth LLC increased its stake in shares of salesforce.com by 250.0% during the third quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock valued at $28,000 after buying an additional 135 shares during the period. Finally, Strategic Blueprint LLC bought a new position in shares of salesforce.com during the third quarter valued at approximately $30,000. Institutional investors own 80.45% of the company’s stock.
In related news, CEO Marc Benioff sold 10,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $186.44, for a total transaction of $1,864,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexandre Dayon sold 20,729 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $161.99, for a total transaction of $3,357,890.71. Following the sale, the insider now owns 72,680 shares of the company’s stock, valued at $11,773,433.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 459,753 shares of company stock valued at $77,421,037. 5.50% of the stock is owned by insiders.
CRM stock opened at $185.72 on Friday. The business has a 50 day moving average of $176.20 and a 200 day moving average of $159.23. The firm has a market cap of $165.63 billion, a PE ratio of 138.32, a price-to-earnings-growth ratio of 8.00 and a beta of 1.19. salesforce.com, inc. has a twelve month low of $137.87 and a twelve month high of $190.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. salesforce.com had a return on equity of 5.37% and a net margin of 4.64%. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, research analysts expect that salesforce.com, inc. will post 1.28 earnings per share for the current fiscal year.
A number of brokerages recently commented on CRM. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a research note on Wednesday, December 4th. Cross Research reissued an “outperform” rating on shares of salesforce.com in a research report on Thursday, December 5th. Oppenheimer upped their price objective on shares of salesforce.com from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Barclays restated a “buy” rating and issued a $189.00 price objective on shares of salesforce.com in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on shares of salesforce.com from $197.00 to $216.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $194.66.
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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