Bridgecreek Investment Management LLC cut its position in salesforce.com, inc. (NYSE:CRM) by 2.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 91,039 shares of the CRM provider’s stock after selling 2,185 shares during the period. salesforce.com makes up about 3.1% of Bridgecreek Investment Management LLC’s holdings, making the stock its 6th largest holding. Bridgecreek Investment Management LLC’s holdings in salesforce.com were worth $14,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Avondale Wealth Management boosted its holdings in shares of salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Citizens Financial Group Inc RI purchased a new position in shares of salesforce.com in the 1st quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of salesforce.com in the 4th quarter worth about $28,000. CX Institutional boosted its holdings in shares of salesforce.com by 426.5% in the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.
Shares of NYSE:CRM opened at $150.15 on Wednesday. salesforce.com, inc. has a 52-week low of $113.60 and a 52-week high of $167.56. The company has a market capitalization of $125.15 billion, a PE ratio of 103.55, a PEG ratio of 5.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96.
In other salesforce.com news, insider Parker Harris sold 6,331 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $157.36, for a total transaction of $996,246.16. Following the sale, the insider now directly owns 33,883 shares in the company, valued at approximately $5,331,828.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Craig Conway sold 200 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $161.00, for a total value of $32,200.00. Following the sale, the director now owns 9,310 shares in the company, valued at $1,498,910. The disclosure for this sale can be found here. Insiders sold a total of 418,779 shares of company stock worth $66,579,600 in the last 90 days. 5.50% of the stock is currently owned by company insiders.
CRM has been the subject of several analyst reports. Goldman Sachs Group restated a “buy” rating and set a $178.00 target price on shares of salesforce.com in a report on Monday, March 4th. OTR Global cut salesforce.com to a “positive” rating in a report on Wednesday, May 15th. Macquarie increased their target price on salesforce.com from $174.00 to $188.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Wells Fargo & Co increased their target price on salesforce.com from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Finally, Raymond James increased their target price on salesforce.com from $165.00 to $200.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $180.03.
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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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