Frisch Financial Group Inc. boosted its holdings in salesforce.com, inc. (NYSE:CRM) by 6,877.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,574 shares of the CRM provider’s stock after purchasing an additional 127,717 shares during the period. Frisch Financial Group Inc.’s holdings in salesforce.com were worth $326,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of salesforce.com by 13.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 169,855 shares of the CRM provider’s stock valued at $41,490,000 after buying an additional 20,442 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of salesforce.com by 6.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 46,827 shares of the CRM provider’s stock valued at $11,438,000 after buying an additional 2,997 shares during the period. Financial Architects Inc increased its position in shares of salesforce.com by 27.3% during the second quarter. Financial Architects Inc now owns 3,455 shares of the CRM provider’s stock valued at $844,000 after buying an additional 741 shares during the period. BerganKDV Wealth Management LLC increased its position in shares of salesforce.com by 33.3% during the second quarter. BerganKDV Wealth Management LLC now owns 400 shares of the CRM provider’s stock valued at $98,000 after buying an additional 100 shares during the period. Finally, Resources Management Corp CT ADV grew its holdings in salesforce.com by 10.6% in the second quarter. Resources Management Corp CT ADV now owns 8,843 shares of the CRM provider’s stock worth $2,160,000 after purchasing an additional 848 shares during the period. 76.46% of the stock is owned by hedge funds and other institutional investors.
In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction on Monday, October 18th. The shares were sold at an average price of $291.44, for a total value of $5,828,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 5,760 shares of salesforce.com stock in a transaction on Monday, January 3rd. The stock was sold at an average price of $254.85, for a total transaction of $1,467,936.00. The disclosure for this sale can be found here. Insiders sold a total of 364,409 shares of company stock valued at $103,902,231 over the last three months. Corporate insiders own 4.10% of the company’s stock.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, November 30th. The CRM provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.35. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.80 billion. salesforce.com had a net margin of 6.96% and a return on equity of 5.71%. salesforce.com’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. On average, research analysts expect that salesforce.com, inc. will post 2.42 EPS for the current year.
A number of brokerages have weighed in on CRM. TheStreet cut shares of salesforce.com from a “b-” rating to a “c+” rating in a report on Thursday, December 2nd. Robert W. Baird restated a “buy” rating and issued a $315.00 price objective on shares of salesforce.com in a report on Sunday, September 26th. Wells Fargo & Company restated a “buy” rating and issued a $340.00 price objective on shares of salesforce.com in a report on Thursday, December 23rd. Stifel Nicolaus upped their price objective on shares of salesforce.com from $315.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Finally, Mizuho dropped their target price on shares of salesforce.com from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, December 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $324.21.
salesforce.com Company Profile
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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