Lindbrook Capital LLC cut its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 15.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,117 shares of the CRM provider’s stock after selling 584 shares during the quarter. Lindbrook Capital LLC’s holdings in salesforce.com were worth $660,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. raised its stake in shares of salesforce.com by 1.9% during the fourth quarter. BlackRock Inc. now owns 65,415,954 shares of the CRM provider’s stock worth $14,557,012,000 after acquiring an additional 1,217,637 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of salesforce.com by 2.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,846,031 shares of the CRM provider’s stock worth $10,193,453,000 after acquiring an additional 876,975 shares in the last quarter. Morgan Stanley raised its stake in shares of salesforce.com by 13.8% during the fourth quarter. Morgan Stanley now owns 13,886,700 shares of the CRM provider’s stock worth $3,090,207,000 after acquiring an additional 1,680,084 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of salesforce.com by 3.7% during the first quarter. Fisher Asset Management LLC now owns 12,952,985 shares of the CRM provider’s stock worth $2,744,349,000 after acquiring an additional 460,821 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of salesforce.com in the fourth quarter worth $2,202,604,000. 80.20% of the stock is currently owned by hedge funds and other institutional investors.
CRM has been the topic of several analyst reports. Nord/LB downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, March 24th. Macquarie lifted their target price on shares of salesforce.com from $252.00 to $273.00 and gave the stock an “outperform” rating in a research note on Friday, February 26th. Wolfe Research initiated coverage on shares of salesforce.com in a research note on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 target price on the stock. Bank of America reiterated a “buy” rating and issued a $300.00 price target on shares of salesforce.com in a report on Monday, February 22nd. Finally, Sanford C. Bernstein set a $233.00 price target on shares of salesforce.com and gave the company a “neutral” rating in a report on Friday, February 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $269.06.
salesforce.com (NYSE:CRM) last released its earnings results on Thursday, February 25th. The CRM provider reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.74. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.68 billion. salesforce.com had a net margin of 17.53% and a return on equity of 6.63%. As a group, equities research analysts anticipate that salesforce.com, inc. will post 2.81 EPS for the current year.
In related news, CAO Joe Allanson sold 605 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $234.04, for a total transaction of $141,594.20. Following the sale, the chief accounting officer now owns 31,108 shares in the company, valued at approximately $7,280,516.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Srinivas Tallapragada sold 5,000 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $239.70, for a total value of $1,198,500.00. Following the completion of the sale, the insider now owns 51,242 shares in the company, valued at approximately $12,282,707.40. The disclosure for this sale can be found here. Insiders sold a total of 161,736 shares of company stock valued at $36,924,076 over the last three months. 4.40% of the stock is currently owned by insiders.
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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