SlateStone Wealth LLC Acquires Shares of 10,880 salesforce.com, inc. (CRM)

SlateStone Wealth LLC acquired a new stake in salesforce.com, inc. (NYSE:CRM) in the first quarter, HoldingsChannel.com reports. The fund acquired 10,880 shares of the CRM provider’s stock, valued at approximately $1,723,000.

A number of other large investors have also recently made changes to their positions in CRM. Vanguard Group Inc lifted its holdings in shares of salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after purchasing an additional 2,398,648 shares in the last quarter. Triangle Securities Wealth Management lifted its holdings in shares of salesforce.com by 3.3% during the fourth quarter. Triangle Securities Wealth Management now owns 12,302 shares of the CRM provider’s stock valued at $1,685,000 after purchasing an additional 395 shares in the last quarter. James Hambro & Partners bought a new position in shares of salesforce.com during the fourth quarter valued at $445,000. Quadrant Capital Group LLC lifted its holdings in shares of salesforce.com by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,796 shares of the CRM provider’s stock valued at $233,000 after purchasing an additional 462 shares in the last quarter. Finally, Thomasville National Bank lifted its holdings in shares of salesforce.com by 55.7% during the fourth quarter. Thomasville National Bank now owns 61,885 shares of the CRM provider’s stock valued at $8,476,000 after purchasing an additional 22,150 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

In related news, insider Parker Harris sold 6,331 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $160.72, for a total transaction of $1,017,518.32. Following the completion of the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at approximately $4,817,421.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Amy E. Weaver sold 494 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $162.13, for a total value of $80,092.22. Following the sale, the general counsel now directly owns 23,956 shares of the company’s stock, valued at $3,883,986.28. The disclosure for this sale can be found here. Insiders have sold a total of 433,731 shares of company stock valued at $69,408,200 over the last three months. 5.50% of the stock is owned by corporate insiders.

NYSE:CRM opened at $154.57 on Friday. The company has a market capitalization of $119.14 billion, a PE ratio of 106.60, a P/E/G ratio of 5.70 and a beta of 1.37. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.95.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same period last year, the company earned $0.35 EPS. Research analysts expect that salesforce.com, inc. will post 1.18 EPS for the current fiscal year.

A number of research analysts have weighed in on CRM shares. Macquarie increased their target price on salesforce.com from $174.00 to $188.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Robert W. Baird upped their price target on salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Zacks Investment Research cut salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. OTR Global cut salesforce.com to a “positive” rating in a research report on Wednesday. Finally, Raymond James increased their target price on salesforce.com from $165.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $177.82.

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About salesforce.com

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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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)

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