Securian Asset Management Inc raised its position in salesforce.com, inc. (NYSE:CRM) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 79,408 shares of the CRM provider’s stock after purchasing an additional 1,483 shares during the period. Securian Asset Management Inc’s holdings in salesforce.com were worth $10,877,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in salesforce.com by 3.5% in the 2nd quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after acquiring an additional 3,066,099 shares during the period. Advisors Asset Management Inc. increased its position in salesforce.com by 23.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 37,842 shares of the CRM provider’s stock valued at $5,162,000 after acquiring an additional 7,228 shares during the period. Lourd Capital LLC acquired a new position in salesforce.com in the 3rd quarter valued at about $378,000. Gofen & Glossberg LLC IL increased its position in salesforce.com by 137.0% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 105,608 shares of the CRM provider’s stock valued at $16,795,000 after acquiring an additional 61,050 shares during the period. Finally, Gradient Investments LLC increased its position in salesforce.com by 6.0% in the 3rd quarter. Gradient Investments LLC now owns 7,668 shares of the CRM provider’s stock valued at $1,219,000 after acquiring an additional 437 shares during the period. Hedge funds and other institutional investors own 82.23% of the company’s stock.
In related news, Chairman Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $157.10, for a total value of $2,356,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark J. Hawkins sold 846 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $159.00, for a total value of $134,514.00. Following the completion of the sale, the insider now directly owns 29,974 shares in the company, valued at approximately $4,765,866. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,829 shares of company stock worth $73,328,115. 6.00% of the stock is owned by corporate insiders.
salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the company earned $0.39 EPS. salesforce.com’s revenue was up 25.6% on a year-over-year basis. Analysts expect that salesforce.com, inc. will post 1.32 earnings per share for the current year.
Several brokerages recently issued reports on CRM. Nomura restated a “buy” rating on shares of salesforce.com in a research report on Wednesday, December 5th. Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “buy” rating and set a $156.00 target price on the stock in a research report on Friday, November 30th. Atlantic Securities initiated coverage on salesforce.com in a research report on Wednesday, January 9th. They set an “overweight” rating and a $179.00 target price on the stock. Credit Suisse Group reiterated a “buy” rating and set a $175.00 target price on shares of salesforce.com in a research report on Wednesday, November 28th. Finally, Sanford C. Bernstein reiterated a “neutral” rating and set a $149.00 target price on shares of salesforce.com in a research report on Wednesday, November 28th. Three research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $170.38.
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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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