Atalanta Sosnoff Capital LLC Grows Holdings in salesforce.com, inc. (CRM)
Atalanta Sosnoff Capital LLC grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 1.1% in the first quarter, Holdings Channel reports. The fund owned 322,839 shares of the CRM provider’s stock after acquiring an additional 3,623 shares during the period. salesforce.com makes up 1.6% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 25th largest position. Atalanta Sosnoff Capital LLC’s holdings in salesforce.com were worth $51,128,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its holdings in shares of salesforce.com by 29,364.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock valued at $159,000 after purchasing an additional 21,642,889 shares during the period. Norges Bank acquired a new stake in salesforce.com during the fourth quarter worth about $938,778,000. Lunia Capital LP bought a new position in salesforce.com in the 4th quarter valued at about $5,811,000. BlackRock Inc. raised its position in shares of salesforce.com by 9.2% in the 4th quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock valued at $7,022,474,000 after buying an additional 4,321,630 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of salesforce.com by 18.3% during the 4th quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after acquiring an additional 3,041,293 shares during the period. 83.02% of the stock is owned by institutional investors.
CRM traded down $1.50 during trading on Tuesday, hitting $156.97. The company’s stock had a trading volume of 5,638,537 shares, compared to its average volume of 5,591,979. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $166.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $122.25 billion, a PE ratio of 108.26, a price-to-earnings-growth ratio of 5.29 and a beta of 1.39.
In other news, insider Parker Harris sold 6,331 shares of the stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $145.80, for a total value of $923,059.80. Following the completion of the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at $4,370,209.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $146.89, for a total value of $124,268.94. Following the completion of the transaction, the chief financial officer now owns 23,501 shares in the company, valued at approximately $3,452,061.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 437,353 shares of company stock worth $68,627,018. 6.00% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on the stock. TheStreet upgraded shares of salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Wedbush reiterated an “outperform” rating and issued a $166.00 target price on shares of salesforce.com in a research report on Monday, January 7th. Goldman Sachs Group reissued a “buy” rating and set a $178.00 price target on shares of salesforce.com in a research note on Monday, March 4th. Pivotal Research raised salesforce.com from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $164.00 in a research note on Monday, January 7th. Finally, Macquarie boosted their price target on salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a 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 assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $177.82.
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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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