State of Alaska Department of Revenue grew its stake in salesforce.com, inc. (NYSE:CRM) by 1,086.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,040 shares of the CRM provider’s stock after purchasing an additional 67,800 shares during the quarter. State of Alaska Department of Revenue’s holdings in salesforce.com were worth $7,567,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Rafferty Asset Management LLC acquired a new stake in shares of salesforce.com in the second quarter valued at about $1,252,000. D.A. Davidson & CO. boosted its position in salesforce.com by 2.4% during the second quarter. D.A. Davidson & CO. now owns 6,807 shares of the CRM provider’s stock worth $589,000 after acquiring an additional 160 shares during the last quarter. ETRADE Capital Management LLC boosted its position in salesforce.com by 7.0% during the second quarter. ETRADE Capital Management LLC now owns 11,735 shares of the CRM provider’s stock worth $1,016,000 after acquiring an additional 770 shares during the last quarter. FIL Ltd boosted its position in salesforce.com by 4.5% during the second quarter. FIL Ltd now owns 1,530,096 shares of the CRM provider’s stock worth $132,506,000 after acquiring an additional 66,358 shares during the last quarter. Finally, Ark Investment Management LLC boosted its position in salesforce.com by 38.3% during the second quarter. Ark Investment Management LLC now owns 111,279 shares of the CRM provider’s stock worth $9,637,000 after acquiring an additional 30,792 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.
A number of research firms recently weighed in on CRM. Cleveland Research began coverage on shares of salesforce.com in a research report on Wednesday, January 31st. They set a “buy” rating on the stock. Royal Bank of Canada set a $120.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research report on Monday, January 22nd. Barclays restated an “overweight” rating and set a $127.00 price target (up from $117.00) on shares of salesforce.com in a research report on Thursday, January 18th. Vetr lowered shares of salesforce.com from a “hold” rating to a “sell” rating and set a $104.56 price target on the stock. in a research report on Tuesday, November 21st. Finally, BMO Capital Markets boosted their price target on shares of salesforce.com from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $113.62.
Shares of salesforce.com, inc. (NYSE CRM) traded up $2.95 on Friday, reaching $106.98. 6,578,053 shares of the company traded hands, compared to its average volume of 4,230,000. salesforce.com, inc. has a 1 year low of $80.25 and a 1 year high of $114.52. The stock has a market cap of $77,270.00, a P/E ratio of 10,698.00, a P/E/G ratio of 5.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.
salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. research analysts predict that salesforce.com, inc. will post 0.43 earnings per share for the current year.
In other news, CAO Joe Allanson sold 622 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $106.77, for a total value of $66,410.94. Following the completion of the transaction, the chief accounting officer now owns 29,062 shares in the company, valued at approximately $3,102,949.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $105.43, for a total transaction of $1,054,300.00. Following the completion of the transaction, the insider now owns 24,154 shares of the company’s stock, valued at approximately $2,546,556.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 480,579 shares of company stock worth $51,957,770. 6.20% of the stock is owned by insiders.
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Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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