salesforce.com, inc. (CRM) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lifted its position in salesforce.com, inc. (NYSE:CRM) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 739,770 shares of the CRM provider’s stock after purchasing an additional 1,620 shares during the quarter. Dimensional Fund Advisors LP owned about 0.10% of salesforce.com worth $86,035,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in salesforce.com by 196.4% during the fourth quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock worth $118,000 after acquiring an additional 762 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in salesforce.com by 64.1% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock worth $121,000 after acquiring an additional 409 shares during the period. First Mercantile Trust Co. acquired a new stake in salesforce.com during the fourth quarter worth about $123,000. Icon Wealth Partners LLC acquired a new stake in salesforce.com during the fourth quarter worth about $131,000. Finally, Truewealth LLC acquired a new stake in salesforce.com during the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.
In other salesforce.com news, Vice Chairman Keith Block sold 10,000 shares of salesforce.com stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $135.30, for a total value of $1,353,000.00. Following the sale, the insider now owns 30,647 shares in the company, valued at $4,146,539.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $133.09, for a total value of $665,450.00. The disclosure for this sale can be found here. Insiders sold 540,859 shares of company stock worth $67,164,151 in the last 90 days. Company insiders own 6.00% of the company’s stock.
salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.28. salesforce.com had a return on equity of 7.25% and a net margin of 4.33%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. research analysts predict that salesforce.com, inc. will post 1 EPS for the current fiscal year.
Several analysts recently commented on the company. Zacks Investment Research lowered salesforce.com from a “strong-buy” rating to a “hold” rating in a report on Monday, June 4th. Roth Capital raised their target price on salesforce.com from $112.00 to $131.00 and gave the stock a “neutral” rating in a report on Thursday, May 31st. SunTrust Banks raised their target price on salesforce.com from $133.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, May 30th. Deutsche Bank raised their target price on salesforce.com from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, May 30th. Finally, Oppenheimer raised their target price on salesforce.com from $135.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, May 30th. Six analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $133.75.
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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