salesforce.com, inc. (CRM) Shares Bought by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its position in salesforce.com, inc. (NYSE:CRM) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,340 shares of the CRM provider’s stock after buying an additional 7,910 shares during the quarter. Cullinan Associates Inc.’s holdings in salesforce.com were worth $9,081,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Bremer Trust National Association raised its holdings in shares of salesforce.com by 0.4% in the 4th quarter. Bremer Trust National Association now owns 17,925 shares of the CRM provider’s stock valued at $2,455,000 after buying an additional 66 shares during the period. Highland Private Wealth Management increased its holdings in salesforce.com by 3.3% during the 4th quarter. Highland Private Wealth Management now owns 2,124 shares of the CRM provider’s stock worth $291,000 after purchasing an additional 68 shares during the period. Asset Dedication LLC increased its holdings in salesforce.com by 45.3% during the 1st quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock worth $35,000 after purchasing an additional 68 shares during the period. Arcadia Investment Management Corp MI increased its holdings in salesforce.com by 63.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. Finally, Mycio Wealth Partners LLC increased its holdings in salesforce.com by 2.5% during the 4th quarter. Mycio Wealth Partners LLC now owns 2,833 shares of the CRM provider’s stock worth $388,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 83.20% of the company’s stock.

CRM has been the topic of several recent research reports. Macquarie upped their price target on salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Robert W. Baird upped their price target on salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Raymond James upped their price target on salesforce.com from $165.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 5th. Finally, Credit Suisse Group restated a “buy” rating and set a $175.00 price target on shares of salesforce.com in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $177.82.

CRM opened at $162.50 on Tuesday. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56. The stock has a market capitalization of $125.90 billion, a PE ratio of 112.07, a price-to-earnings-growth ratio of 6.03 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20.

salesforce.com (NYSE:CRM) last announced its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same period in the prior year, the firm earned $0.35 EPS. On average, research analysts expect that salesforce.com, inc. will post 1.18 earnings per share for the current year.

In related news, insider Parker Harris sold 5,711 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $162.35, for a total value of $927,180.85. Following the completion of the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at approximately $4,866,278.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $157.10, for a total value of $2,356,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 435,698 shares of company stock valued at $69,894,927. Insiders own 5.50% 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.

Further Reading: What is a Fiduciary?

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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