Valinor Management L.P. lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 661,900 shares of the CRM provider’s stock after purchasing an additional 69,200 shares during the quarter. salesforce.com accounts for 4.4% of Valinor Management L.P.’s holdings, making the stock its 9th biggest holding. Valinor Management L.P. owned approximately 0.09% of salesforce.com worth $90,660,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. bought a new position in salesforce.com in the 3rd quarter valued at about $543,000. Bank of New York Mellon Corp raised its position in salesforce.com by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 8,205,516 shares of the CRM provider’s stock valued at $1,304,923,000 after acquiring an additional 75,769 shares in the last quarter. Martingale Asset Management L P grew its holdings in salesforce.com by 32.1% during the third quarter. Martingale Asset Management L P now owns 7,413 shares of the CRM provider’s stock valued at $1,179,000 after purchasing an additional 1,801 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in salesforce.com during the third quarter valued at approximately $865,000. Finally, CIBC World Markets Inc. grew its stake in shares of salesforce.com by 18.7% in the third quarter. CIBC World Markets Inc. now owns 77,651 shares of the CRM provider’s stock worth $12,349,000 after acquiring an additional 12,236 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.
In other news, Director Craig Conway sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $146.07, for a total value of $29,214.00. Following the transaction, the director now owns 9,198 shares in the company, valued at $1,343,551.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark J. Hawkins sold 15,271 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $165.08, for a total value of $2,520,936.68. Following the completion of the transaction, the insider now owns 25,254 shares in the company, valued at approximately $4,168,930.32. The disclosure for this sale can be found here. Insiders sold 440,337 shares of company stock valued at $69,281,589 in the last three months. Insiders own 6.00% of the company’s stock.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.14. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the firm posted $0.35 earnings per share. Equities analysts expect that salesforce.com, inc. will post 1.31 earnings per share for the current year.
A number of research analysts have issued reports on the company. TheStreet raised salesforce.com from a “c+” rating to a “b” rating in a report on Thursday, January 31st. Nomura set a $184.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Societe Generale set a $186.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, March 5th. SunTrust Banks boosted their target price on salesforce.com to $183.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Credit Suisse Group restated a “buy” rating and set a $175.00 target price on shares of salesforce.com in a research report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $177.82.
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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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