Bremer Trust National Association Has $557,000 Position in salesforce.com, inc. (CRM)
Bremer Trust National Association trimmed its stake in shares of salesforce.com, inc. (NYSE:CRM) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,457 shares of the CRM provider’s stock after selling 676 shares during the quarter. Bremer Trust National Association’s holdings in salesforce.com were worth $557,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Janus Henderson Group PLC grew its stake in salesforce.com by 911.7% during the 2nd quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock worth $1,104,945,000 after purchasing an additional 11,498,509 shares in the last quarter. Vanguard Group Inc. grew its stake in salesforce.com by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after purchasing an additional 2,268,623 shares in the last quarter. Tybourne Capital Management HK Ltd. grew its stake in salesforce.com by 76.5% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock worth $410,323,000 after purchasing an additional 2,053,200 shares in the last quarter. Coatue Management LLC acquired a new position in salesforce.com during the 2nd quarter worth $94,297,000. Finally, Matrix Capital Management Company LP acquired a new position in salesforce.com during the 2nd quarter worth $86,600,000. 85.57% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on CRM shares. Citigroup boosted their target price on salesforce.com to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 target price on shares of salesforce.com in a research note on Wednesday, November 1st. Robert W. Baird set a $110.00 target price on salesforce.com and gave the stock a “buy” rating in a research note on Sunday, October 1st. Royal Bank of Canada reissued a “buy” rating and set a $109.00 target price on shares of salesforce.com in a research note on Friday, October 20th. Finally, Guggenheim started coverage on salesforce.com in a research note on Monday, October 30th. They set a “buy” rating and a $125.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and forty-three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $112.66.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. sell-side analysts forecast that salesforce.com, inc. will post 0.43 earnings per share for the current fiscal year.
In related news, insider Joe Allanson sold 22,606 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $110.00, for a total value of $2,486,660.00. Following the sale, the insider now owns 52,916 shares in the company, valued at approximately $5,820,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 8,026 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $96.44, for a total value of $774,027.44. The disclosure for this sale can be found here. Insiders have sold a total of 651,393 shares of company stock worth $67,974,484 in the last quarter. 6.20% of the stock is currently owned by insiders.
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Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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