North Star Investment Management Corp. boosted its position in salesforce.com, inc. (NYSE:CRM) by 2,937.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,738 shares of the CRM provider’s stock after purchasing an additional 4,582 shares during the period. North Star Investment Management Corp.’s holdings in salesforce.com were worth $750,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CX Institutional increased its position in salesforce.com by 426.5% in the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after buying an additional 145 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of salesforce.com in the fourth quarter worth $28,000. Legacy Advisors LLC bought a new position in shares of salesforce.com in the first quarter worth $36,000. Semmax Financial Advisors Inc. bought a new position in shares of salesforce.com in the fourth quarter worth $36,000. Finally, Aspire Private Capital LLC bought a new position in shares of salesforce.com in the fourth quarter worth $36,000. 83.41% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target (up from $181.00) on shares of salesforce.com in a report on Wednesday, February 27th. Mizuho initiated coverage on salesforce.com in a research note on Wednesday, March 13th. They set a “buy” rating and a $185.00 price objective for the company. JPMorgan Chase & Co. reissued a “buy” rating and set a $180.00 price objective on shares of salesforce.com in a research note on Wednesday, April 17th. Deutsche Bank reissued a “buy” rating on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $185.00 price target (up previously from $175.00) on shares of salesforce.com in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $177.82.
salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, topping the 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 analyst estimates of $3.56 billion. During the same period in the prior year, the business posted $0.35 EPS. As a group, research analysts forecast that salesforce.com, inc. will post 1.18 EPS for the current fiscal year.
In other news, insider Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $159.00, for a total transaction of $134,514.00. Following the transaction, the insider now directly owns 29,974 shares of the company’s stock, valued at $4,765,866. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark J. Hawkins sold 15,271 shares of salesforce.com stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $165.08, for a total transaction of $2,520,936.68. Following the transaction, the insider now directly owns 25,254 shares in the company, valued at $4,168,930.32. The disclosure for this sale can be found here. Insiders sold a total of 430,698 shares of company stock worth $69,018,577 over the last three months. 6.00% of the stock is currently owned by corporate insiders.
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salesforce.com Company Profile
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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