salesforce.com, inc. (CRM) Position Boosted by Watermark Asset Management Inc.
Watermark Asset Management Inc. lifted its position in shares of salesforce.com, inc. (NYSE:CRM) by 20.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 619 shares of the CRM provider’s stock after buying an additional 104 shares during the period. Watermark Asset Management Inc.’s holdings in salesforce.com were worth $85,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CRM. Botty Investors LLC acquired a new position in salesforce.com during the third quarter worth approximately $123,000. Psagot Investment House Ltd. acquired a new position in salesforce.com during the third quarter worth approximately $134,000. Carroll Financial Associates Inc. increased its position in salesforce.com by 27.7% during the fourth quarter. Carroll Financial Associates Inc. now owns 1,050 shares of the CRM provider’s stock worth $149,000 after purchasing an additional 228 shares during the last quarter. Cerebellum GP LLC acquired a new position in salesforce.com during the fourth quarter worth approximately $177,000. Finally, United Capital Management of KS Inc. acquired a new position in salesforce.com during the third quarter worth approximately $193,000. 81.76% of the stock is owned by hedge funds and other institutional investors.
In other salesforce.com news, insider Parker Harris sold 5,711 shares of the stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $140.14, for a total transaction of $800,339.54. Following the transaction, the insider now directly owns 27,938 shares in the company, valued at approximately $3,915,231.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark J. Hawkins sold 8,221 shares of the stock in a transaction on Friday, October 26th. The shares were sold at an average price of $136.88, for a total transaction of $1,125,290.48. Following the transaction, the insider now owns 28,277 shares in the company, valued at $3,870,555.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 493,181 shares of company stock valued at $66,197,809. Company insiders own 6.00% of the company’s stock.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Equities analysts forecast that salesforce.com, inc. will post 1.32 earnings per share for the current year.
CRM has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of salesforce.com from $172.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Piper Jaffray Companies increased their price objective on shares of salesforce.com from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, September 28th. Rosenblatt Securities reissued a “buy” rating and issued a $178.00 price objective on shares of salesforce.com in a research report on Tuesday, October 2nd. BMO Capital Markets increased their price objective on shares of salesforce.com from $165.00 to $174.00 and gave the stock a “market perform” rating in a research report on Monday, October 15th. Finally, Oppenheimer increased their price objective on shares of salesforce.com from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, September 27th. Three analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company. salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $170.05.
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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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