FIL Ltd grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 158.1% during the first quarter, HoldingsChannel reports. The firm owned 1,901,195 shares of the CRM provider’s stock after purchasing an additional 1,164,713 shares during the period. FIL Ltd’s holdings in salesforce.com were worth $301,093,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CRM. Oregon Public Employees Retirement Fund boosted its stake in shares of salesforce.com by 29,364.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock valued at $159,000 after purchasing an additional 21,642,889 shares in the last quarter. Norges Bank acquired a new stake in shares of salesforce.com during the fourth quarter valued at about $938,778,000. Lunia Capital LP acquired a new stake in shares of salesforce.com during the fourth quarter valued at about $5,811,000. BlackRock Inc. boosted its stake in shares of salesforce.com by 9.2% during the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock valued at $7,022,474,000 after purchasing an additional 4,321,630 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of salesforce.com by 18.3% during the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock valued at $2,694,432,000 after purchasing an additional 3,041,293 shares in the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. Credit Suisse Group set a $175.00 price target on salesforce.com and gave the company a “buy” rating in a research note on Wednesday, June 5th. Nomura cut their price target on salesforce.com from $184.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Royal Bank of Canada reissued a “buy” rating and set a $183.00 price target on shares of salesforce.com in a research note on Wednesday, June 5th. Sanford C. Bernstein set a $169.00 price target on salesforce.com and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Finally, Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $180.03.
In other news, insider Mark J. Hawkins sold 15,271 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $165.08, for a total transaction of $2,520,936.68. Following the completion of the sale, the insider now owns 25,254 shares in the company, valued at $4,168,930.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $161.51, for a total value of $1,615,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 418,779 shares of company stock valued at $66,579,600. Corporate insiders own 5.50% of the company’s stock.
Shares of CRM stock opened at $150.15 on Wednesday. The company has a market capitalization of $125.15 billion, a price-to-earnings ratio of 103.55, a price-to-earnings-growth ratio of 5.13 and a beta of 1.38. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.32. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, research analysts anticipate that salesforce.com, inc. will post 1.45 earnings per share for the current year.
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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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