Polar Capital LLP lifted its position in shares of salesforce.com, inc. (NYSE:CRM) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,161 shares of the CRM provider’s stock after acquiring an additional 32,279 shares during the quarter. salesforce.com accounts for about 0.9% of Polar Capital LLP’s holdings, making the stock its 23rd biggest position. Polar Capital LLP’s holdings in salesforce.com were worth $83,985,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Chicago Equity Partners LLC boosted its stake in shares of salesforce.com by 9.7% during the third quarter. Chicago Equity Partners LLC now owns 6,530 shares of the CRM provider’s stock valued at $1,038,000 after purchasing an additional 580 shares during the period. Penserra Capital Management LLC boosted its stake in shares of salesforce.com by 29.4% during the third quarter. Penserra Capital Management LLC now owns 1,992 shares of the CRM provider’s stock valued at $316,000 after purchasing an additional 453 shares during the period. Achmea Investment Management B.V. purchased a new stake in salesforce.com in the third quarter worth $822,000. Commonwealth Equity Services LLC lifted its stake in salesforce.com by 12.0% in the third quarter. Commonwealth Equity Services LLC now owns 82,133 shares of the CRM provider’s stock worth $13,061,000 after acquiring an additional 8,775 shares during the period. Finally, Allen Investment Management LLC lifted its stake in salesforce.com by 35.9% in the third quarter. Allen Investment Management LLC now owns 18,240 shares of the CRM provider’s stock worth $2,901,000 after acquiring an additional 4,818 shares during the period. 83.17% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Craig Conway sold 200 shares of the firm’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $146.07, for a total transaction of $29,214.00. Following the completion of the transaction, the director now directly owns 9,198 shares in the company, valued at $1,343,551.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $141.36, for a total value of $1,413,600.00. The disclosure for this sale can be found here. Insiders have sold 541,028 shares of company stock valued at $78,200,323 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.
Shares of NYSE:CRM opened at $159.96 on Wednesday. salesforce.com, inc. has a 1-year low of $111.34 and a 1-year high of $166.15. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The firm has a market cap of $120.60 billion, a PE ratio of 110.32, a P/E/G ratio of 5.23 and a beta of 1.37.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the company earned $0.35 earnings per share. On average, sell-side analysts predict that salesforce.com, inc. will post 1.29 EPS for the current fiscal year.
CRM has been the subject of a number of research analyst reports. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Macquarie raised their price target on salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $182.00 price target on shares of salesforce.com in a research note on Wednesday, November 28th. Robert W. Baird raised their price target on salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $177.62.
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salesforce.com 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.
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