Tredje AP fonden grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 19.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 60,761 shares of the CRM provider’s stock after buying an additional 10,007 shares during the quarter. Tredje AP fonden’s holdings in salesforce.com were worth $7,268,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Norges Bank bought a new position in shares of salesforce.com in the fourth quarter valued at approximately $1,322,911,000. Fisher Asset Management LLC raised its position in salesforce.com by 49.6% in the 1st quarter. Fisher Asset Management LLC now owns 10,873,498 shares of the CRM provider’s stock valued at $1,565,566,000 after purchasing an additional 3,606,319 shares during the last quarter. Polen Capital Management LLC acquired a new position in salesforce.com in the fourth quarter worth $501,219,000. Private Advisor Group LLC grew its holdings in shares of salesforce.com by 100.8% during the fourth quarter. Private Advisor Group LLC now owns 22,356 shares of the CRM provider’s stock worth $3,636,000 after purchasing an additional 2,782,856 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new position in shares of salesforce.com in the fourth quarter valued at about $280,534,000. 81.92% of the stock is owned by institutional investors.
NYSE CRM traded up $1.95 during trading on Friday, hitting $177.21. The stock had a trading volume of 2,472,464 shares, compared to its average volume of 6,160,593. The company has a market capitalization of $157.54 billion, a PE ratio of 888.74, a P/E/G ratio of 8.07 and a beta of 1.07. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $195.72. The company’s 50-day moving average price is $158.63 and its two-hundred day moving average price is $165.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 1.08.
Several research firms have weighed in on CRM. Stifel Nicolaus raised their price objective on shares of salesforce.com from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. restated a “buy” rating and issued a $200.00 price objective on shares of salesforce.com in a research report on Wednesday, February 26th. OTR Global lowered salesforce.com to a “positive” rating in a research report on Wednesday, May 13th. Barclays restated a “buy” rating and set a $186.00 target price on shares of salesforce.com in a research report on Tuesday, March 17th. Finally, Deutsche Bank upped their price target on salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $198.69.
In related news, Director Craig Conway sold 225 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $131.00, for a total transaction of $29,475.00. Following the transaction, the director now directly owns 10,165 shares in the company, valued at $1,331,615. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Joe Allanson sold 521 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $139.86, for a total transaction of $72,867.06. Following the sale, the chief accounting officer now directly owns 31,559 shares in the company, valued at $4,413,841.74. The disclosure for this sale can be found here. Insiders sold a total of 413,535 shares of company stock valued at $65,708,070 in the last 90 days. 4.40% of the stock is owned by corporate insiders.
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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