salesforce.com, inc. (NYSE:CRM) Shares Sold by KCM Investment Advisors LLC
KCM Investment Advisors LLC lowered its stake in shares of salesforce.com, inc. (NYSE:CRM) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,855 shares of the CRM provider’s stock after selling 370 shares during the period. KCM Investment Advisors LLC’s holdings in salesforce.com were worth $5,994,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of salesforce.com by 2.2% in the 4th quarter. State Street Corp now owns 35,429,991 shares of the CRM provider’s stock valued at $5,762,334,000 after purchasing an additional 762,963 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of salesforce.com by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 8,739,204 shares of the CRM provider’s stock valued at $1,421,342,000 after purchasing an additional 227,958 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of salesforce.com by 6.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,130,254 shares of the CRM provider’s stock valued at $1,159,663,000 after purchasing an additional 435,127 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of salesforce.com by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 5,389,563 shares of the CRM provider’s stock valued at $876,558,000 after purchasing an additional 251,455 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of salesforce.com by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,225,781 shares of the CRM provider’s stock valued at $687,281,000 after buying an additional 119,839 shares during the period. 82.25% of the stock is currently owned by institutional investors.
salesforce.com stock traded up $6.24 during midday trading on Thursday, reaching $153.30. The stock had a trading volume of 433,331 shares, compared to its average volume of 10,902,879. salesforce.com, inc. has a twelve month low of $115.29 and a twelve month high of $195.72. The stock has a market capitalization of $137.51 billion, a PE ratio of 767.41, a price-to-earnings-growth ratio of 6.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50-day simple moving average is $169.75 and its 200 day simple moving average is $163.37.
Several equities research analysts recently issued reports on the company. Mizuho boosted their price objective on salesforce.com from $195.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Cfra raised salesforce.com from a “buy” rating to a “strong-buy” rating and raised their price target for the stock from $195.00 to $222.00 in a research report on Friday, February 28th. UBS Group raised their price target on salesforce.com from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. They noted that the move was a valuation call. SunTrust Banks reissued a “buy” rating and set a $210.00 price target on shares of salesforce.com in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $200.00 price target on shares of salesforce.com in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $199.82.
In other news, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $165.02, for a total transaction of $825,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wojcicki acquired 1,100 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $175.26 per share, with a total value of $192,786.00. Following the completion of the acquisition, the director now owns 100,569 shares of the company’s stock, valued at $17,625,722.94. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,300 shares of company stock worth $566,544 and have sold 403,088 shares worth $69,427,979. 5.50% of the stock is currently owned by insiders.
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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