Raab & Moskowitz Asset Management LLC lowered its position in salesforce.com, inc. (NYSE:CRM) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,478 shares of the CRM provider’s stock after selling 854 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in salesforce.com were worth $1,372,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of salesforce.com by 1.9% in the fourth quarter. BlackRock Inc. now owns 65,415,954 shares of the CRM provider’s stock worth $14,557,012,000 after purchasing an additional 1,217,637 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of salesforce.com by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,846,031 shares of the CRM provider’s stock worth $10,193,453,000 after purchasing an additional 876,975 shares during the last quarter. Morgan Stanley grew its holdings in shares of salesforce.com by 13.8% in the fourth quarter. Morgan Stanley now owns 13,886,700 shares of the CRM provider’s stock worth $3,090,207,000 after purchasing an additional 1,680,084 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of salesforce.com by 3.7% in the first quarter. Fisher Asset Management LLC now owns 12,952,985 shares of the CRM provider’s stock worth $2,744,349,000 after purchasing an additional 460,821 shares during the last quarter. Finally, Norges Bank bought a new position in shares of salesforce.com in the fourth quarter worth about $2,202,604,000. 80.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of salesforce.com stock traded down $5.95 during trading hours on Tuesday, reaching $217.81. 58,413 shares of the company’s stock were exchanged, compared to its average volume of 6,852,737. The business has a fifty day moving average of $222.59 and a two-hundred day moving average of $230.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $200.60 billion, a P/E ratio of 57.01, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. salesforce.com, inc. has a 1 year low of $155.08 and a 1 year high of $284.50.
CRM has been the topic of a number of research analyst reports. Credit Suisse Group initiated coverage on shares of salesforce.com in a report on Monday, April 5th. They issued an “outperform” rating and a $260.00 price target on the stock. Loop Capital raised shares of salesforce.com from a “sell” rating to a “hold” rating and set a $225.00 target price on the stock in a research report on Monday, January 25th. Macquarie raised their target price on shares of salesforce.com from $252.00 to $273.00 and gave the company an “outperform” rating in a research report on Friday, February 26th. Nord/LB downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday, March 24th. Finally, Zacks Investment Research downgraded shares of salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 target price on the stock. in a research report on Monday, March 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. salesforce.com has an average rating of “Buy” and a consensus price target of $269.06.
In other salesforce.com news, insider Srinivas Tallapragada sold 5,000 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $239.70, for a total value of $1,198,500.00. Following the transaction, the insider now owns 51,242 shares of the company’s stock, valued at $12,282,707.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Joe Allanson sold 225 shares of the company’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total transaction of $48,588.75. Following the completion of the transaction, the chief accounting officer now directly owns 31,439 shares in the company, valued at approximately $6,789,252.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,736 shares of company stock worth $36,924,076. Corporate insiders own 4.40% of the company’s stock.
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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