First Pacific Financial purchased a new stake in salesforce.com, inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,022 shares of the CRM provider’s stock, valued at approximately $450,000.
A number of other hedge funds also recently bought and sold shares of CRM. Dimension Capital Management LLC acquired a new position in salesforce.com in the third quarter valued at about $26,000. Trustcore Financial Services LLC raised its stake in salesforce.com by 116.9% in the third quarter. Trustcore Financial Services LLC now owns 128 shares of the CRM provider’s stock valued at $32,000 after purchasing an additional 69 shares in the last quarter. First Personal Financial Services acquired a new position in salesforce.com in the fourth quarter valued at about $32,000. Larson Financial Group LLC raised its stake in salesforce.com by 93.4% in the fourth quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in salesforce.com in the third quarter valued at about $35,000. 80.20% of the stock is owned by institutional investors and hedge funds.
salesforce.com stock opened at $238.89 on Friday. The stock has a market capitalization of $218.58 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 5.42 and a beta of 1.17. salesforce.com, inc. has a 52-week low of $115.29 and a 52-week high of $284.50. The stock’s 50 day moving average price is $223.32 and its two-hundred day moving average price is $233.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Monday, November 30th. The CRM provider reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.99. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The firm had revenue of $5.42 million for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was down 99.9% compared to the same quarter last year. On average, equities research analysts forecast that salesforce.com, inc. will post 2.81 EPS for the current year.
In other news, insider Parker Harris sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $215.68, for a total transaction of $927,424.00. Following the transaction, the insider now directly owns 69,445 shares of the company’s stock, valued at $14,977,897.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy E. Weaver sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $220.90, for a total value of $2,429,900.00. Following the transaction, the insider now directly owns 31,676 shares in the company, valued at $6,997,228.40. The disclosure for this sale can be found here. Insiders have sold 83,092 shares of company stock worth $19,221,005 over the last ninety days. 4.40% of the stock is owned by insiders.
CRM has been the subject of a number of analyst reports. Zacks Investment Research downgraded salesforce.com from a “strong-buy” rating to a “hold” rating and set a $254.00 price target for the company. in a research note on Tuesday, October 27th. Smith Barney Citigroup assumed coverage on salesforce.com in a research note on Tuesday, November 17th. They set an “outperform” rating and a $304.00 target price for the company. KeyCorp assumed coverage on salesforce.com in a research note on Monday, November 23rd. They set an “overweight” rating and a $310.00 target price for the company. Loop Capital raised salesforce.com from a “sell” rating to a “hold” rating and set a $225.00 target price for the company in a research note on Monday, January 25th. Finally, Morgan Stanley lowered their target price on salesforce.com from $275.00 to $270.00 and set an “equal weight” rating for the company in a research note on Thursday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $263.72.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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