Virtu Financial LLC reduced its position in shares of salesforce.com, inc. (NYSE:CRM) by 76.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,108 shares of the CRM provider’s stock after selling 26,191 shares during the quarter. Virtu Financial LLC’s holdings in salesforce.com were worth $1,718,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. MBM Wealth Consultants LLC bought a new stake in salesforce.com in the first quarter worth $25,000. Northwest Investment Counselors LLC bought a new stake in salesforce.com in the first quarter worth $29,000. Pacific Center for Financial Services lifted its position in salesforce.com by 1,340.0% in the fourth quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock worth $32,000 after buying an additional 134 shares during the last quarter. Wealthcare Capital Management LLC bought a new stake in salesforce.com in the first quarter worth $31,000. Finally, Sage Financial Management Group Inc. bought a new stake in salesforce.com in the first quarter worth $32,000. Hedge funds and other institutional investors own 75.65% of the company’s stock.
CRM opened at $247.03 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $228.75 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 8.42 and a beta of 1.09. The company has a 50-day moving average of $238.69. salesforce.com, inc. has a 1 year low of $184.38 and a 1 year high of $284.50.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 26th. The CRM provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.33. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.89 billion. salesforce.com had a return on equity of 8.02% and a net margin of 19.88%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. As a group, research analysts predict that salesforce.com, inc. will post 1.6 earnings per share for the current fiscal year.
In related news, CFO Amy E. Weaver sold 5,299 shares of salesforce.com stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $230.77, for a total transaction of $1,222,850.23. Following the completion of the sale, the chief financial officer now owns 31,204 shares of the company’s stock, valued at $7,200,947.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joe Allanson sold 313 shares of salesforce.com stock in a transaction dated Wednesday, June 23rd. The stock was sold at an average price of $242.40, for a total value of $75,871.20. Following the sale, the chief accounting officer now directly owns 31,398 shares of the company’s stock, valued at approximately $7,610,875.20. The disclosure for this sale can be found here. In the last three months, insiders sold 383,016 shares of company stock valued at $92,422,529. Corporate insiders own 4.10% of the company’s stock.
A number of analysts recently issued reports on CRM shares. Canaccord Genuity restated a “buy” rating on shares of salesforce.com in a research report on Friday, May 28th. Morgan Stanley increased their target price on salesforce.com from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 25th. They noted that the move was a valuation call. Jefferies Financial Group set a $300.00 target price on salesforce.com and gave the stock a “buy” rating in a research note on Monday, May 31st. Wolfe Research assumed coverage on salesforce.com in a research note on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 target price on the stock. Finally, Credit Suisse Group set a $260.00 target price on salesforce.com and gave the stock a “buy” rating in a research note on Friday, May 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. salesforce.com has an average rating of “Buy” and an average price target of $277.31.
salesforce.com Profile
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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