Lannebo Fonder AB lifted its position in salesforce.com, inc. (NYSE:CRM) by 23.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,000 shares of the CRM provider’s stock after purchasing an additional 19,000 shares during the period. salesforce.com comprises about 4.0% of Lannebo Fonder AB’s portfolio, making the stock its 9th biggest holding. Lannebo Fonder AB’s holdings in salesforce.com were worth $14,254,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Greenwoods Asset Management Ltd purchased a new position in shares of salesforce.com in the 1st quarter valued at about $1,439,000. Mutual of America Capital Management LLC grew its holdings in salesforce.com by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 120,905 shares of the CRM provider’s stock valued at $17,408,000 after purchasing an additional 930 shares during the period. Aft Forsyth & Company Inc. increased its position in shares of salesforce.com by 1.8% in the first quarter. Aft Forsyth & Company Inc. now owns 14,575 shares of the CRM provider’s stock valued at $2,099,000 after buying an additional 258 shares in the last quarter. Cambridge Financial Group Inc. raised its stake in shares of salesforce.com by 1.7% during the 1st quarter. Cambridge Financial Group Inc. now owns 35,359 shares of the CRM provider’s stock worth $5,091,000 after buying an additional 575 shares during the period. Finally, Cigna Investments Inc. New lifted its position in shares of salesforce.com by 12.6% during the 1st quarter. Cigna Investments Inc. New now owns 25,939 shares of the CRM provider’s stock valued at $3,735,000 after buying an additional 2,912 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.
CRM has been the subject of a number of research analyst reports. Argus upped their price objective on shares of salesforce.com from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Co restated a “buy” rating on shares of salesforce.com in a research report on Tuesday, March 24th. Goldman Sachs Group set a $178.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Thursday, March 26th. Roth Capital boosted their price objective on salesforce.com from $139.00 to $165.00 in a research note on Wednesday, February 26th. Finally, Bank of America restated a “buy” rating and issued a $210.00 target price on shares of salesforce.com in a research report on Thursday, May 14th. Two equities research 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 issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $198.69.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, February 25th. The CRM provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.56 by $0.10. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.75 billion. salesforce.com had a net margin of 0.74% and a return on equity of 3.61%. During the same period in the prior year, the business posted $0.70 EPS. Research analysts predict that salesforce.com, inc. will post 1.22 EPS for the current year.
In other news, insider Alexandre Dayon sold 848 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $183.35, for a total value of $155,480.80. Following the completion of the transaction, the insider now owns 73,436 shares of the company’s stock, valued at $13,464,490.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction that occurred on Thursday, May 21st. The shares were 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. Insiders have sold 413,535 shares of company stock worth $65,708,070 over the last 90 days. 4.40% of the stock is 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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