Tiaa Fsb cut its stake in salesforce.com, inc. (NYSE:CRM) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,059 shares of the CRM provider’s stock after selling 8,590 shares during the period. Tiaa Fsb’s holdings in salesforce.com were worth $13,788,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Jag Capital Management LLC boosted its holdings in shares of salesforce.com by 66.5% during the 1st quarter. Jag Capital Management LLC now owns 119,216 shares of the CRM provider’s stock worth $18,881,000 after buying an additional 47,597 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its holdings in shares of salesforce.com by 175.1% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 22,625 shares of the CRM provider’s stock worth $3,583,000 after buying an additional 14,400 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of salesforce.com by 1.0% during the 1st quarter. Raymond James Trust N.A. now owns 11,155 shares of the CRM provider’s stock worth $1,766,000 after buying an additional 112 shares in the last quarter. Sciencast Management LP bought a new position in shares of salesforce.com during the 1st quarter worth approximately $2,578,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of salesforce.com by 1.3% during the 1st quarter. Retirement Systems of Alabama now owns 606,217 shares of the CRM provider’s stock worth $96,007,000 after buying an additional 7,694 shares in the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.
In other news, Director Craig Conway sold 200 shares of the 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 owns 9,198 shares in the company, valued at approximately $1,343,551.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keith Block sold 2,500 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $158.44, for a total value of $396,100.00. Following the transaction, the chief executive officer now owns 30,002 shares of the company’s stock, valued at approximately $4,753,516.88. The disclosure for this sale can be found here. Insiders have sold a total of 440,337 shares of company stock valued at $69,281,589 in the last quarter. 6.00% of the stock is owned by corporate insiders.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.14. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, equities analysts anticipate that salesforce.com, inc. will post 1.31 EPS for the current fiscal year.
A number of research firms have issued reports on CRM. Zacks Investment Research cut salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Exane BNP Paribas began coverage on salesforce.com in a research report on Friday, March 29th. They set an “outperform” rating on the stock. Robert W. Baird upped their target price on salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Mizuho began coverage on salesforce.com in a research report on Wednesday, March 13th. They set a “buy” rating and a $185.00 target price on the stock. Finally, JMP Securities reaffirmed a “buy” rating and set a $178.00 target price on shares of salesforce.com in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $177.82.
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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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