BI Asset Management Fondsmaeglerselskab A S acquired a new position in salesforce.com, inc. (NYSE:CRM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 37,177 shares of the CRM provider’s stock, valued at approximately $5,353,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. NWK Group Inc. acquired a new position in shares of salesforce.com in the 4th quarter valued at about $28,000. AlphaCore Capital LLC purchased a new position in salesforce.com during the first quarter valued at approximately $28,000. Red Door Wealth Management LLC acquired a new position in salesforce.com in the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN increased its stake in salesforce.com by 166.7% in the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock valued at $29,000 after buying an additional 125 shares during the period. Finally, Accurate Investment Solutions Inc. lifted its position in 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 buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.
Shares of NYSE:CRM traded up $2.59 on Friday, hitting $177.85. 4,963,328 shares of the company were exchanged, compared to its average volume of 6,068,004. The company’s 50 day moving average price is $159.26 and its two-hundred day moving average price is $165.63. The firm has a market capitalization of $157.54 billion, a price-to-earnings ratio of 889.29, a PEG ratio of 7.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 1.08. salesforce.com, inc. has a one year low of $115.29 and a one year high of $195.72.
A number of equities analysts have recently weighed in on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $210.00 price target on shares of salesforce.com in a research note on Friday. OTR Global downgraded salesforce.com to a “positive” rating in a research note on Wednesday, May 13th. Roth Capital raised their price target on salesforce.com from $139.00 to $165.00 in a research note on Wednesday, February 26th. Sanford C. Bernstein reissued a “neutral” rating and issued a $180.00 price target on shares of salesforce.com in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price objective on salesforce.com from $230.00 to $210.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $198.69.
In other news, Director Craig Conway sold 225 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $131.00, for a total value of $29,475.00. Following the completion of the transaction, the director now owns 10,165 shares in the company, valued at approximately $1,331,615. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Joe Allanson sold 521 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $139.86, for a total transaction of $72,867.06. Following the transaction, the chief accounting officer now directly owns 31,559 shares of the company’s stock, valued at $4,413,841.74. The disclosure for this sale can be found here. Insiders have sold a total of 413,535 shares of company stock worth $65,708,070 in the last three months. 4.40% of the stock is owned by insiders.
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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