California State Teachers Retirement System trimmed its stake in shares of salesforce.com, inc. (NYSE:CRM) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,117,790 shares of the CRM provider’s stock after selling 15,421 shares during the period. California State Teachers Retirement System’s holdings in salesforce.com were worth $114,272,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of salesforce.com by 5.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock worth $1,255,082,000 after purchasing an additional 675,471 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of salesforce.com by 2.4% in the 4th quarter. Brown Advisory Inc. now owns 4,756,094 shares of the CRM provider’s stock worth $486,216,000 after purchasing an additional 112,839 shares in the last quarter. Tybourne Capital Management HK Ltd. raised its holdings in shares of salesforce.com by 27.8% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 4,346,500 shares of the CRM provider’s stock worth $444,343,000 after purchasing an additional 945,000 shares in the last quarter. Fred Alger Management Inc. raised its holdings in shares of salesforce.com by 2.1% in the 4th quarter. Fred Alger Management Inc. now owns 3,683,014 shares of the CRM provider’s stock worth $376,515,000 after purchasing an additional 76,255 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of salesforce.com by 323.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,568,872 shares of the CRM provider’s stock worth $364,846,000 after purchasing an additional 2,725,972 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.
Shares of salesforce.com, inc. (NYSE:CRM) opened at $127.41 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.82. The stock has a market cap of $92,028.25, a P/E ratio of 283.13, a price-to-earnings-growth ratio of 5.86 and a beta of 1.25. salesforce.com, inc. has a one year low of $80.50 and a one year high of $127.50.
In other news, insider Parker Harris sold 1,750 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $123.00, for a total value of $215,250.00. Following the completion of the sale, the insider now directly owns 18,157 shares in the company, valued at $2,233,311. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marc Benioff sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $125.03, for a total transaction of $625,150.00. The disclosure for this sale can be found here. Insiders sold 248,557 shares of company stock valued at $27,603,409 over the last quarter. Corporate insiders own 6.20% of the company’s stock.
A number of analysts recently commented on CRM shares. BMO Capital Markets boosted their target price on shares of salesforce.com from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $127.00 target price (up from $107.00) on shares of salesforce.com in a report on Thursday, November 16th. Vetr downgraded shares of salesforce.com from a “buy” rating to a “hold” rating and set a $107.78 target price on the stock. in a report on Monday, December 11th. Royal Bank of Canada set a $120.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Cowen reiterated a “buy” rating and issued a $118.00 target price on shares of salesforce.com in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $123.51.
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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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