Total Clarity Wealth Management Inc. purchased a new stake in shares of salesforce.com, inc. (NYSE:CRM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 795 shares of the CRM provider’s stock, valued at approximately $168,000.
A number of other hedge funds have also added to or reduced their stakes in CRM. Northwest Investment Counselors LLC acquired a new stake in shares of salesforce.com in the 1st quarter valued at $29,000. Pacific Center for Financial Services increased its stake in shares of salesforce.com by 1,340.0% in the 4th quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock valued at $32,000 after buying an additional 134 shares during the period. First Personal Financial Services acquired a new stake in shares of salesforce.com in the 4th quarter valued at $32,000. Wealthcare Capital Management LLC acquired a new stake in shares of salesforce.com in the 1st quarter valued at $31,000. Finally, Flagship Private Wealth LLC acquired a new stake in shares of salesforce.com in the 4th quarter valued at $33,000. 80.20% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. set a $250.00 target price on salesforce.com and gave the company a “buy” rating in a research note on Friday, February 26th. TheStreet raised salesforce.com from a “c+” rating to a “b-” rating in a research note on Monday, April 26th. Bank of America reaffirmed a “buy” rating and set a $300.00 price objective on shares of salesforce.com in a research note on Monday, February 22nd. Loop Capital raised salesforce.com from a “sell” rating to a “hold” rating and set a $225.00 price objective for the company in a research note on Monday, January 25th. Finally, Mizuho decreased their price objective on salesforce.com from $290.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $268.49.
salesforce.com (NYSE:CRM) last released its earnings results on Thursday, February 25th. The CRM provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.74. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.68 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. On average, equities analysts expect that salesforce.com, inc. will post 2.81 EPS for the current year.
In related news, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $213.79, for a total value of $919,297.00. Following the sale, the insider now owns 85,431 shares of the company’s stock, valued at $18,264,293.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $213.00, for a total value of $1,065,000.00. Following the completion of the sale, the insider now directly owns 51,242 shares in the company, valued at approximately $10,914,546. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,635 shares of company stock worth $40,124,503. 4.40% of the stock is owned by company insiders.
salesforce.com Company Profile
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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