Aft Forsyth & Company Inc. grew its position in salesforce.com, inc. (NYSE:CRM) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,575 shares of the CRM provider’s stock after purchasing an additional 258 shares during the period. salesforce.com makes up approximately 2.1% of Aft Forsyth & Company Inc.’s holdings, making the stock its 8th largest holding. Aft Forsyth & Company Inc.’s holdings in salesforce.com were worth $2,099,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. NWK Group Inc. acquired a new position in shares of salesforce.com in the 4th quarter valued at about $28,000. AlphaCore Capital LLC acquired a new position in shares of salesforce.com in the 1st quarter valued at about $28,000. Red Door Wealth Management LLC acquired a new position in shares of salesforce.com in the 1st quarter valued at about $29,000. Delta Asset Management LLC TN lifted its stake in shares of salesforce.com by 166.7% in the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Finally, Accurate Investment Solutions Inc. lifted its stake in shares of salesforce.com by 632.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.
CRM traded up $2.59 during trading on Friday, reaching $177.85. 4,963,328 shares of the company were exchanged, compared to its average volume of 6,068,004. The stock has a market cap of $157.54 billion, a P/E ratio of 889.29, a PEG ratio of 7.99 and a beta of 1.07. The firm has a 50 day moving average of $159.26 and a 200 day moving average of $165.63. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.08. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $195.72.
CRM has been the topic of several research analyst reports. Oppenheimer lifted their price objective on salesforce.com from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. reissued a “buy” rating and set a $200.00 price target on shares of salesforce.com in a research report on Wednesday, February 26th. Mizuho boosted their price target on salesforce.com from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Canaccord Genuity boosted their price target on salesforce.com from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Monness Crespi & Hardt reduced their price target on salesforce.com from $222.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $198.69.
In other salesforce.com news, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $183.92, for a total transaction of $1,839,200.00. Following the completion of the transaction, the chief executive officer now owns 60,901 shares in the company, valued at approximately $11,200,911.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark J. Hawkins sold 876 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $178.54, for a total value of $156,401.04. Following the transaction, the chief financial officer now owns 15,279 shares of the company’s stock, valued at approximately $2,727,912.66. The disclosure for this sale can be found here. Insiders have sold a total of 413,535 shares of company stock valued at $65,708,070 in the last quarter. 4.40% of the stock is currently owned by insiders.
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.
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