Curi Capital bought a new stake in salesforce.com, inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 163 shares of the CRM provider’s stock, valued at approximately $36,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Front Barnett Associates LLC raised its position in shares of 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. Baron Silver Stevens Financial Advisors LLC purchased a new position in shares of salesforce.com during the 4th quarter valued at approximately $84,000. Valley Brook Capital Group acquired a new stake in salesforce.com in the 4th quarter valued at $189,000. DekaBank Deutsche Girozentrale increased its holdings in salesforce.com by 24.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 507,866 shares of the CRM provider’s stock worth $113,693,000 after acquiring an additional 99,355 shares in the last quarter. Finally, Midwest Professional Planners LTD. raised its position in salesforce.com by 20.8% during the fourth quarter. Midwest Professional Planners LTD. now owns 4,594 shares of the CRM provider’s stock worth $1,022,000 after acquiring an additional 792 shares during the period. 80.20% of the stock is currently owned by hedge funds and other institutional investors.
CRM stock opened at $220.79 on Thursday. The stock has a 50-day moving average price of $218.94 and a two-hundred day moving average price of $233.22. salesforce.com, inc. has a 1 year low of $145.00 and a 1 year high of $284.50. The stock has a market cap of $203.35 billion, a PE ratio of 57.65, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07.
Several research firms have recently weighed in on CRM. Piper Sandler decreased their price target on shares of salesforce.com from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, March 4th. The Goldman Sachs Group upgraded salesforce.com from a “buy” rating to a “conviction-buy” rating and set a $315.00 price objective on the stock in a research note on Monday, March 8th. Sanford C. Bernstein set a $233.00 price objective on shares of salesforce.com and gave the company a “neutral” rating in a report on Friday, February 26th. Nord/LB downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, March 24th. Finally, Zacks Investment Research cut salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 price target for the company. in a research note on Monday, March 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $269.03.
In other salesforce.com news, CAO Joe Allanson sold 225 shares of salesforce.com stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total value of $48,588.75. Following the sale, the chief accounting officer now directly owns 31,439 shares in the company, valued at approximately $6,789,252.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 4,300 shares of the business’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $215.92, for a total transaction of $928,456.00. Following the sale, the insider now directly owns 69,445 shares in the company, valued at $14,994,564.40. The disclosure for this sale can be found here. Insiders have sold a total of 73,330 shares of company stock valued at $16,256,366 over the last ninety days. Company insiders own 4.40% of the company’s stock.
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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