National Asset Management Inc. grew its position in salesforce.com, inc. (NYSE:CRM) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,258 shares of the CRM provider’s stock after buying an additional 282 shares during the period. National Asset Management Inc.’s holdings in salesforce.com were worth $1,766,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. NWK Group Inc. acquired a new stake in shares of salesforce.com in the 4th quarter valued at $28,000. AlphaCore Capital LLC acquired a new stake in shares of salesforce.com in the 1st quarter valued at $28,000. Red Door Wealth Management LLC bought a new position in shares of salesforce.com in the 1st quarter worth $29,000. Delta Asset Management LLC TN boosted its position in shares of salesforce.com by 166.7% in the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Finally, Accurate Investment Solutions Inc. boosted its position in shares of salesforce.com by 632.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 177 shares during the last quarter. 81.92% of the stock is owned by institutional investors.
In other salesforce.com news, insider Alexandre Dayon sold 848 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $183.35, for a total transaction of $155,480.80. Following the transaction, the insider now owns 73,436 shares of the company’s stock, valued at $13,464,490.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $183.92, for a total value of $1,839,200.00. Following the completion of the transaction, the chief executive officer now directly owns 60,901 shares in the company, valued at approximately $11,200,911.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 413,535 shares of company stock worth $65,708,070. Company insiders own 4.40% of the company’s stock.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, February 25th. The CRM provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.75 billion. salesforce.com had a return on equity of 3.61% and a net margin of 0.74%. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Argus raised their price target on salesforce.com from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cfra upgraded salesforce.com from a “buy” rating to a “strong-buy” rating and raised their price target for the stock from $195.00 to $222.00 in a research report on Friday, February 28th. Monness Crespi & Hardt reduced their price target on salesforce.com from $222.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Royal Bank of Canada reduced their price target on salesforce.com from $230.00 to $210.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Goldman Sachs Group set a $178.00 target price on salesforce.com and gave the stock a “buy” rating in a report on Thursday, March 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. The company has an average 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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