Citizens Financial Group Inc RI increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,971 shares of the CRM provider’s stock after buying an additional 478 shares during the period. Citizens Financial Group Inc RI’s holdings in salesforce.com were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the business. NWK Group Inc. acquired a new position in shares of salesforce.com in the fourth quarter valued at about $28,000. AlphaCore Capital LLC acquired a new position in shares of salesforce.com in the first quarter valued at about $28,000. Red Door Wealth Management LLC acquired a new position in shares of salesforce.com in the first quarter valued at about $29,000. Delta Asset Management LLC TN grew 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 acquiring an additional 125 shares in the last quarter. Finally, Accurate Investment Solutions Inc. lifted its position in salesforce.com by 632.1% during the first quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.
CRM has been the subject of several recent analyst reports. Monness Crespi & Hardt cut their price objective on shares of salesforce.com from $222.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Canaccord Genuity upped their price objective on shares of salesforce.com from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Roth Capital upped their price objective on shares of salesforce.com from $139.00 to $165.00 in a research report on Wednesday, February 26th. Wells Fargo & Co reaffirmed a “buy” rating on shares of salesforce.com in a research report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $200.00 target price on shares of salesforce.com in a report on Wednesday, February 26th. 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 given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $198.69.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, February 25th. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.10. salesforce.com had a return on equity of 3.61% and a net margin of 0.74%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter last year, the business posted $0.70 earnings per share. On average, research analysts predict that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.
In other salesforce.com news, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $176.19, for a total transaction of $1,761,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Joe Allanson sold 521 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $139.86, for a total value of $72,867.06. Following the transaction, the chief accounting officer now owns 31,559 shares of the company’s stock, valued at approximately $4,413,841.74. 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 90 days. 4.40% of the stock is currently owned by company insiders.
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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