Flossbach Von Storch AG decreased its holdings in salesforce.com, inc. (NYSE:CRM) by 61.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 268,476 shares of the CRM provider’s stock after selling 433,592 shares during the quarter. Flossbach Von Storch AG’s holdings in salesforce.com were worth $38,655,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. NWK Group Inc. purchased a new position in shares of salesforce.com in the fourth quarter valued at approximately $28,000. AlphaCore Capital LLC purchased a new position in shares of salesforce.com in the first quarter valued at approximately $28,000. Red Door Wealth Management LLC purchased a new position in shares of salesforce.com in the first quarter valued at approximately $29,000. Delta Asset Management LLC TN boosted its stake in shares of salesforce.com by 166.7% in the first 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 during the period. Finally, Accurate Investment Solutions Inc. boosted its stake in shares of salesforce.com by 632.1% in the first 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 during the period. 81.92% of the stock is owned by institutional investors and hedge funds.
In related news, COO Bret Steven Taylor sold 14,118 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.11, for a total value of $2,542,792.98. Following the sale, the chief operating officer now directly owns 1,074,814 shares in the company, valued at approximately $193,584,749.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $176.19, for a total transaction of $1,761,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 413,535 shares of company stock worth $65,708,070. Corporate insiders own 4.40% of the company’s stock.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, February 25th. The CRM provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. salesforce.com had a net margin of 0.74% and a return on equity of 3.61%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the prior year, the company posted $0.70 EPS. As a group, analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. SunTrust Banks reiterated a “buy” rating and issued a $210.00 price target on shares of salesforce.com in a research note on Friday. BMO Capital Markets lifted their price target on shares of salesforce.com to $220.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. UBS Group lifted their price target on shares of salesforce.com from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. They noted that the move was a valuation call. Barclays restated a “buy” rating and set a $186.00 price objective on shares of salesforce.com in a research report on Tuesday, March 17th. Finally, Morgan Stanley reduced their price objective on shares of salesforce.com from $225.00 to $195.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $198.69.
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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