State of Alaska Department of Revenue trimmed its position in shares of salesforce.com, inc. (NYSE:CRM) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 111,946 shares of the CRM provider’s stock after selling 878 shares during the quarter. State of Alaska Department of Revenue’s holdings in salesforce.com were worth $15,331,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Botty Investors LLC acquired a new stake in shares of salesforce.com during the third quarter worth $123,000. Psagot Investment House Ltd. acquired a new stake in shares of salesforce.com during the third quarter worth $134,000. Resources Investment Advisors Inc. raised its holdings in shares of salesforce.com by 328.2% during the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after acquiring an additional 965 shares during the period. Cerebellum GP LLC acquired a new stake in shares of salesforce.com during the fourth quarter worth $177,000. Finally, United Capital Management of KS Inc. acquired a new stake in shares of salesforce.com during the third quarter worth $193,000. 81.76% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on CRM shares. Royal Bank of Canada raised their price objective on shares of salesforce.com to $182.00 in a report on Thursday, September 27th. They noted that the move was a valuation call. Wedbush raised their price objective on shares of salesforce.com from $160.00 to $166.00 in a report on Sunday, December 2nd. Rosenblatt Securities restated a “buy” rating and set a $178.00 price objective on shares of salesforce.com in a report on Tuesday, October 2nd. Deutsche Bank raised their price objective on shares of salesforce.com from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Finally, Credit Suisse Group set a $175.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a report on Thursday, September 27th. Three analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $168.97.
Shares of salesforce.com stock traded up $1.22 during trading on Thursday, hitting $147.21. 246,957 shares of the stock were exchanged, compared to its average volume of 6,840,632. The firm has a market capitalization of $105.54 billion, a PE ratio of 326.76, a P/E/G ratio of 4.34 and a beta of 1.28. salesforce.com, inc. has a 1-year low of $102.37 and a 1-year high of $161.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.11. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.37 billion. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. salesforce.com’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, analysts expect that salesforce.com, inc. will post 1.32 EPS for the current year.
In related news, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $142.75, for a total transaction of $1,427,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amy E. Weaver sold 5,325 shares of salesforce.com stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $146.49, for a total transaction of $780,059.25. Following the sale, the insider now directly owns 26,798 shares of the company’s stock, valued at approximately $3,925,639.02. The disclosure for this sale can be found here. Insiders have sold a total of 507,746 shares of company stock valued at $68,274,433 in the last ninety days. 6.00% of the stock is currently owned by insiders.
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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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