Meeder Asset Management Inc. lifted its holdings in salesforce.com, inc. (NYSE:CRM) by 575.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,687 shares of the CRM provider’s stock after acquiring an additional 24,439 shares during the period. Meeder Asset Management Inc.’s holdings in salesforce.com were worth $6,055,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Aspiriant LLC lifted its holdings in salesforce.com by 12.4% in the fourth quarter. Aspiriant LLC now owns 12,871 shares of the CRM provider’s stock valued at $2,865,000 after acquiring an additional 1,418 shares during the last quarter. Ossiam raised its position in salesforce.com by 5.4% in the fourth quarter. Ossiam now owns 277,920 shares of the CRM provider’s stock valued at $61,846,000 after purchasing an additional 14,334 shares during the period. Deltec Asset Management LLC raised its position in salesforce.com by 8.0% in the fourth quarter. Deltec Asset Management LLC now owns 38,180 shares of the CRM provider’s stock valued at $8,496,000 after purchasing an additional 2,830 shares during the period. Deccan Value Investors L.P. raised its position in salesforce.com by 21.5% in the fourth quarter. Deccan Value Investors L.P. now owns 1,205,400 shares of the CRM provider’s stock valued at $268,238,000 after purchasing an additional 212,900 shares during the period. Finally, Personal CFO Solutions LLC increased its position in shares of salesforce.com by 21.4% during the first quarter. Personal CFO Solutions LLC now owns 7,758 shares of the CRM provider’s stock worth $1,644,000 after acquiring an additional 1,366 shares during the period. 80.20% of the stock is owned by hedge funds and other institutional investors.
In other news, CAO Joe Allanson sold 225 shares of the business’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total value of $48,588.75. Following the completion of the sale, the chief accounting officer now owns 31,439 shares of the company’s stock, valued at approximately $6,789,252.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 68,398 shares of the business’s stock in a transaction dated Friday, April 16th. The shares were sold at an average price of $231.58, for a total transaction of $15,839,608.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,736 shares of company stock valued at $36,924,076. Corporate insiders own 4.40% of the company’s stock.
salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, February 25th. The CRM provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.30 by $0.74. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.68 billion. Equities research analysts predict that salesforce.com, inc. will post 2.81 EPS for the current fiscal year.
A number of research firms have recently weighed in on CRM. Zacks Investment Research lowered salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 price objective on the stock. in a research report on Monday, March 1st. Nord/LB cut shares of salesforce.com from a “buy” rating to a “hold” rating in a report on Wednesday, March 24th. Piper Sandler dropped their target price on shares of salesforce.com from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, March 4th. Sanford C. Bernstein set a $233.00 price target on shares of salesforce.com and gave the company a “neutral” rating in a report on Friday, February 26th. Finally, Credit Suisse Group began coverage on shares of salesforce.com in a research note on Monday, April 5th. They issued an “outperform” rating and a $260.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $269.06.
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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