Cordasco Financial Network bought a new stake in shares of salesforce.com, inc. (NYSE:CRM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 334 shares of the CRM provider’s stock, valued at approximately $53,000.

Other hedge funds have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of salesforce.com during the fourth quarter valued at approximately $28,000. CX Institutional increased its position in shares of salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 145 shares in the last quarter. Intercontinental Wealth Advisors LLC bought a new stake in shares of salesforce.com during the fourth quarter valued at approximately $36,000. Semmax Financial Advisors Inc. bought a new stake in shares of salesforce.com during the fourth quarter valued at approximately $36,000. Finally, Aspire Private Capital LLC bought a new stake in shares of salesforce.com during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.02% of the company’s stock.

In other news, insider Srinivas Tallapragada sold 362 shares of the business’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $149.15, for a total transaction of $53,992.30. Following the completion of the sale, the insider now owns 1,517 shares of the company’s stock, valued at approximately $226,260.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Craig Conway sold 200 shares of the business’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $146.07, for a total transaction of $29,214.00. Following the sale, the director now directly owns 9,198 shares of the company’s stock, valued at approximately $1,343,551.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 450,224 shares of company stock valued at $70,729,132. Insiders own 6.00% of the company’s stock.

NYSE:CRM opened at $160.24 on Thursday. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $166.99. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $121.02 billion, a price-to-earnings ratio of 110.51, a P/E/G ratio of 5.23 and a beta of 1.39.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, sell-side analysts forecast that salesforce.com, inc. will post 1.31 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. Atlantic Securities assumed coverage on shares of salesforce.com in a research report on Wednesday, January 9th. They set an “overweight” rating and a $179.00 price target for the company. BMO Capital Markets reissued an “outperform” rating and set a $185.00 price target (up previously from $175.00) on shares of salesforce.com in a research report on Tuesday, March 5th. Canaccord Genuity reissued a “buy” rating and set a $175.00 price target (up previously from $165.00) on shares of salesforce.com in a research report on Wednesday, March 6th. Exane BNP Paribas assumed coverage on shares of salesforce.com in a research report on Friday, March 29th. They set an “outperform” rating for the company. Finally, Barclays raised their price target on shares of salesforce.com to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $177.82.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/cordasco-financial-network-takes-53000-position-in-salesforce-com-inc-crm/2954207.html.

salesforce.com 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.

Further Reading: Fundamental Analysis and Individual Investors

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.