Bard Financial Services Inc. Takes $1.05 Million Position in salesforce.com, inc. (NYSE:CRM)

Bard Financial Services Inc. acquired a new stake in shares of salesforce.com, inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,710 shares of the CRM provider’s stock, valued at approximately $1,048,000.

Several other institutional investors also recently added to or reduced their stakes in CRM. Alpha DNA Investment Management LLC bought a new stake in salesforce.com in the fourth quarter worth $601,000. Mach 1 Financial Group Inc. purchased a new stake in salesforce.com in the fourth quarter worth about $645,000. Curi Capital purchased a new stake in salesforce.com in the fourth quarter worth about $36,000. Front Barnett Associates LLC lifted its stake in salesforce.com by 2.2% in the fourth quarter. Front Barnett Associates LLC now owns 80,105 shares of the CRM provider’s stock worth $17,826,000 after acquiring an additional 1,753 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC bought a new position in salesforce.com in the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 80.20% of the company’s stock.

Several research firms have recently issued reports on CRM. TheStreet downgraded shares of salesforce.com from a “b” rating to a “c+” rating in a report on Thursday, February 25th. Piper Sandler cut their price objective on shares of salesforce.com from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, March 4th. Jefferies Financial Group set a $320.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, December 30th. Credit Suisse Group initiated coverage on shares of salesforce.com in a report on Tuesday, March 16th. They issued an “outperform” rating and a $260.00 price target on the stock. Finally, Barclays set a $276.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, December 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $269.03.

In other news, CFO Amy E. Weaver sold 5,000 shares of salesforce.com stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $227.00, for a total value of $1,135,000.00. Following the completion of the transaction, the chief financial officer now owns 26,486 shares in the company, valued at approximately $6,012,322. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joe Allanson sold 225 shares of salesforce.com stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total value of $48,588.75. Following the completion of the transaction, the chief accounting officer now owns 31,439 shares of the company’s stock, valued at approximately $6,789,252.05. The disclosure for this sale can be found here. Insiders sold a total of 73,330 shares of company stock valued at $16,256,366 in the last quarter. Company insiders own 4.40% of the company’s stock.

Shares of salesforce.com stock opened at $220.79 on Thursday. The business has a 50-day moving average of $218.94 and a 200 day moving average of $233.22. salesforce.com, inc. has a 12 month low of $145.00 and a 12 month high of $284.50. The stock has a market capitalization of $203.35 billion, a price-to-earnings ratio of 57.65, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22.

salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, February 25th. The CRM provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.74. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Equities research analysts anticipate that salesforce.com, inc. will post 2.81 earnings per share for the current year.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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