Nomura Asset Management Co. Ltd. Acquires 68,862 Shares of salesforce.com, inc. (CRM)
Nomura Asset Management Co. Ltd. increased its holdings in salesforce.com, inc. (NYSE:CRM) by 40.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,344 shares of the CRM provider’s stock after purchasing an additional 68,862 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in salesforce.com were worth $37,588,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Avondale Wealth Management raised its position in shares of salesforce.com by 100.0% during the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in shares of salesforce.com during the first quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of salesforce.com during the fourth quarter valued at about $28,000. CX Institutional raised 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 buying an additional 145 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its position in shares of salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 82.10% of the company’s stock.
In other salesforce.com news, CAO Joe Allanson sold 667 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $159.60, for a total transaction of $106,453.20. Following the sale, the chief accounting officer now directly owns 31,633 shares of the company’s stock, valued at $5,048,626.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Conway sold 200 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $161.00, for a total transaction of $32,200.00. Following the sale, the director now directly owns 9,310 shares in the company, valued at $1,498,910. The disclosure for this sale can be found here. Insiders have sold 437,216 shares of company stock worth $69,492,868 over the last ninety days. Insiders own 5.50% of the company’s stock.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities analysts anticipate that salesforce.com, inc. will post 1.18 EPS for the current year.
A number of research analysts have recently commented on CRM shares. Goldman Sachs Group reaffirmed a “buy” rating and set a $178.00 price objective on shares of salesforce.com in a research report on Monday, March 4th. Macquarie upped their price objective on shares of salesforce.com from $174.00 to $188.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Wells Fargo & Co upped their price objective on shares of salesforce.com from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. OTR Global lowered shares of salesforce.com to a “positive” rating in a research report on Wednesday, May 15th. Finally, Raymond James upped their price objective on shares of salesforce.com from $165.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and an average target price of $178.57.
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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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