Millennium Management LLC lowered its stake in salesforce.com, inc. (NYSE:CRM) by 22.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,805,252 shares of the CRM provider’s stock after selling 529,461 shares during the quarter. Millennium Management LLC’s holdings in salesforce.com were worth $184,551,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Sandy Spring Bank boosted its holdings in salesforce.com by 1.7% in the fourth quarter. Sandy Spring Bank now owns 27,382 shares of the CRM provider’s stock valued at $2,799,000 after acquiring an additional 470 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in salesforce.com by 16.3% in the third quarter. King Luther Capital Management Corp now owns 3,414 shares of the CRM provider’s stock valued at $319,000 after acquiring an additional 479 shares in the last quarter. Cetera Advisors LLC boosted its holdings in salesforce.com by 17.5% in the fourth quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock valued at $334,000 after acquiring an additional 485 shares in the last quarter. BB&T Corp boosted its holdings in salesforce.com by 2.6% in the fourth quarter. BB&T Corp now owns 20,751 shares of the CRM provider’s stock valued at $2,121,000 after acquiring an additional 533 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in salesforce.com by 23.6% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 2,826 shares of the CRM provider’s stock valued at $289,000 after acquiring an additional 540 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.
Shares of salesforce.com, inc. (NYSE CRM) opened at $126.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.82. The stock has a market capitalization of $92,930.00, a P/E ratio of 281.62, a PEG ratio of 5.83 and a beta of 1.25. salesforce.com, inc. has a 12 month low of $80.50 and a 12 month high of $128.20.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.81 billion. salesforce.com had a return on equity of 3.86% and a net margin of 1.22%. The business’s revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. research analysts predict that salesforce.com, inc. will post 0.9 EPS for the current fiscal year.
CRM has been the subject of several recent research reports. Societe Generale set a $130.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley restated an “overweight” rating and issued a $127.00 price objective (up from $107.00) on shares of salesforce.com in a research note on Thursday, November 16th. Credit Suisse Group raised their price objective on salesforce.com from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Goldman Sachs Group set a $121.00 price objective on salesforce.com and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Vetr cut salesforce.com from a “hold” rating to a “sell” rating and set a $104.56 price objective for the company. in a research note on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $123.51.
In other news, insider Alexandre Dayon sold 1,015 shares of salesforce.com stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $113.47, for a total value of $115,172.05. Following the sale, the insider now directly owns 17,452 shares of the company’s stock, valued at $1,980,278.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Wojcicki purchased 6,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was purchased at an average cost of $109.14 per share, for a total transaction of $654,840.00. Following the completion of the purchase, the director now directly owns 39,223 shares of the company’s stock, valued at $4,280,798.22. The disclosure for this purchase can be found here. Insiders sold 265,307 shares of company stock worth $29,733,909 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.
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salesforce.com Company Profile
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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