M&R Capital Management Inc. reduced its position in salesforce.com, inc. (NYSE:CRM) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,285 shares of the CRM provider’s stock after selling 65 shares during the quarter. M&R Capital Management Inc.’s holdings in salesforce.com were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Public Employees Retirement Association of Colorado boosted its position in shares of salesforce.com by 9.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 767,916 shares of the CRM provider’s stock worth $110,565,000 after acquiring an additional 68,096 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in salesforce.com during the first quarter valued at $246,000. Vident Investment Advisory LLC purchased a new stake in salesforce.com during the first quarter valued at $1,540,000. Private Advisor Group LLC raised its stake in salesforce.com by 7.3% during the first quarter. Private Advisor Group LLC now owns 23,982 shares of the CRM provider’s stock valued at $3,453,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in salesforce.com during the first quarter valued at $665,000. Institutional investors and hedge funds own 81.40% of the company’s stock.
Shares of NYSE CRM traded up $2.13 during mid-day trading on Thursday, hitting $253.45. The stock had a trading volume of 4,279,893 shares, compared to its average volume of 7,287,772. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50 day moving average of $237.48 and a two-hundred day moving average of $188.52. salesforce.com, inc. has a twelve month low of $115.29 and a twelve month high of $284.50. The firm has a market cap of $230.64 billion, a PE ratio of 99.00, a PEG ratio of 7.07 and a beta of 1.24.
In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $186.31, for a total transaction of $2,794,650.00. Following the sale, the chief executive officer now directly owns 30,003,800 shares of the company’s stock, valued at approximately $5,590,007,978. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 5,000 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $197.72, for a total transaction of $988,600.00. Following the sale, the insider now directly owns 46,788 shares in the company, valued at $9,250,923.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 717,449 shares of company stock worth $156,530,503. 4.40% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on CRM shares. Monness Crespi & Hardt upped their price target on shares of salesforce.com from $195.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Goldman Sachs Group set a $252.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Tuesday, September 1st. Jefferies Financial Group reissued a “buy” rating and issued a $235.00 target price (up previously from $220.00) on shares of salesforce.com in a research note on Wednesday, August 19th. Wedbush increased their target price on shares of salesforce.com from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Cowen increased their target price on shares of salesforce.com from $210.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $243.60.
salesforce.com Company 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.
Further Reading: Strike Price
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