Venturi Wealth Management LLC bought a new stake in shares of salesforce.com, inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,796 shares of the CRM provider’s stock, valued at approximately $234,000.
Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of salesforce.com by 10.3% in the 3rd quarter. Victory Capital Management Inc. now owns 210,327 shares of the CRM provider’s stock worth $33,449,000 after acquiring an additional 19,562 shares during the last quarter. Chicago Equity Partners LLC lifted its holdings in salesforce.com by 9.7% during the 3rd quarter. Chicago Equity Partners LLC now owns 6,530 shares of the CRM provider’s stock worth $1,038,000 after buying an additional 580 shares during the last quarter. Private Advisor Group LLC lifted its holdings in salesforce.com by 153.7% during the 3rd quarter. Private Advisor Group LLC now owns 31,544 shares of the CRM provider’s stock worth $5,016,000 after buying an additional 19,110 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in salesforce.com by 26.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,252 shares of the CRM provider’s stock worth $994,000 after buying an additional 1,320 shares during the last quarter. Finally, Commerce Bank lifted its holdings in salesforce.com by 3.5% during the 3rd quarter. Commerce Bank now owns 17,966 shares of the CRM provider’s stock worth $2,857,000 after buying an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 82.84% of the company’s stock.
Several analysts recently issued reports on CRM shares. Piper Jaffray Companies cut their price target on salesforce.com from $190.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, November 21st. Wedbush reiterated an “outperform” rating and issued a $180.00 price objective (up from $160.00) on shares of salesforce.com in a research note on Monday, November 26th. Sanford C. Bernstein reiterated a “neutral” rating and issued a $149.00 price objective on shares of salesforce.com in a research note on Wednesday, November 28th. Goldman Sachs Group reiterated a “buy” rating and issued a $168.00 price objective on shares of salesforce.com in a research note on Wednesday, November 28th. Finally, BMO Capital Markets lifted their price objective on salesforce.com from $174.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 28th. Three equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com currently has a consensus rating of “Buy” and an average price target of $177.82.
NYSE:CRM traded up $0.95 during trading hours on Thursday, hitting $160.76. 2,273,563 shares of the stock were exchanged, compared to its average volume of 6,287,147. salesforce.com, inc. has a twelve month low of $111.34 and a twelve month high of $166.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.95. The company has a market cap of $122.03 billion, a price-to-earnings ratio of 110.87, a P/E/G ratio of 5.26 and a beta of 1.40.
salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities analysts predict that salesforce.com, inc. will post 1.31 EPS for the current fiscal year.
In other salesforce.com news, Chairman Marc Benioff sold 157,472 shares of the stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $133.21, for a total transaction of $20,976,845.12. Following the completion of the transaction, the chairman now owns 32,179,928 shares in the company, valued at approximately $4,286,688,208.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cynthia G. Robbins sold 1,583 shares of the stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $138.84, for a total value of $219,783.72. Following the transaction, the insider now owns 230 shares of the company’s stock, valued at approximately $31,933.20. The disclosure for this sale can be found here. Insiders have sold a total of 550,199 shares of company stock valued at $79,874,720 in the last quarter. Corporate insiders own 6.00% of the company’s stock.
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salesforce.com Company Profile
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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