Sompo Japan Nipponkoa Asset Management CO. LTD. reduced its holdings in salesforce.com, inc. (NYSE:CRM) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,220 shares of the CRM provider’s stock after selling 90 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in salesforce.com were worth $1,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Candriam Luxembourg S.C.A. increased its position in shares of salesforce.com by 7.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 370,766 shares of the CRM provider’s stock valued at $60,302,000 after purchasing an additional 25,353 shares during the last quarter. RFG Advisory LLC purchased a new stake in salesforce.com during the 4th quarter valued at about $286,000. Davis R M Inc. boosted its holdings in salesforce.com by 11.9% during the 4th quarter. Davis R M Inc. now owns 2,486 shares of the CRM provider’s stock valued at $404,000 after acquiring an additional 265 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of salesforce.com in the 4th quarter worth $734,000. Finally, Chapman Investment Management LLC bought a new stake in shares of salesforce.com in the fourth quarter worth $2,934,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
NYSE CRM traded up $2.59 during trading hours on Friday, hitting $177.85. 4,963,328 shares of the company were exchanged, compared to its average volume of 6,068,004. The stock has a 50-day moving average price of $159.26 and a 200 day moving average price of $165.63. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.08. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $195.72. The stock has a market cap of $157.54 billion, a PE ratio of 889.29, a price-to-earnings-growth ratio of 7.99 and a beta of 1.07.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, February 25th. The CRM provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.75 billion. salesforce.com had a return on equity of 3.61% and a net margin of 0.74%. During the same period in the previous year, the firm posted $0.70 earnings per share. As a group, sell-side analysts anticipate that salesforce.com, inc. will post 1.22 earnings per share for the current year.
Several brokerages recently commented on CRM. Oppenheimer lifted their price objective on salesforce.com from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, May 18th. Piper Sandler lowered their target price on salesforce.com from $205.00 to $193.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Sanford C. Bernstein reiterated a “neutral” rating and set a $180.00 target price on shares of salesforce.com in a research report on Wednesday, February 26th. Wells Fargo & Co reiterated a “buy” rating on shares of salesforce.com in a research report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $200.00 target price on shares of salesforce.com in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $198.69.
In other news, CEO Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $183.92, for a total transaction of $1,839,200.00. Following the transaction, the chief executive officer now owns 60,901 shares of the company’s stock, valued at $11,200,911.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark J. Hawkins sold 876 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $178.54, for a total value of $156,401.04. Following the transaction, the chief financial officer now directly owns 15,279 shares in the company, valued at approximately $2,727,912.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 413,535 shares of company stock worth $65,708,070. Insiders own 4.40% of the company’s stock.
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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