Teachers Retirement System of The State of Kentucky increased its stake in salesforce.com, inc. (NYSE:CRM) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,600 shares of the CRM provider’s stock after buying an additional 67,193 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in salesforce.com were worth $34,615,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CRM. Egerton Capital UK LLP purchased a new position in salesforce.com in the 4th quarter worth about $294,547,000. Arrowstreet Capital Limited Partnership increased its position in salesforce.com by 323.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,568,872 shares of the CRM provider’s stock valued at $364,846,000 after purchasing an additional 2,725,972 shares during the period. Tybourne Capital Management HK Ltd. increased its position in salesforce.com by 27.8% during the 4th quarter. Tybourne Capital Management HK Ltd. now owns 4,346,500 shares of the CRM provider’s stock valued at $444,343,000 after purchasing an additional 945,000 shares during the period. Assenagon Asset Management S.A. purchased a new position in salesforce.com during the 4th quarter valued at about $83,414,000. Finally, Janus Henderson Group PLC increased its position in salesforce.com by 5.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock valued at $1,255,082,000 after purchasing an additional 675,471 shares during the period. 86.68% of the stock is currently owned by institutional investors.
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 quick ratio of 0.82 and a current ratio of 0.92. salesforce.com, inc. has a 12 month low of $80.50 and a 12 month high of $127.50. The company has a market cap of $92,028.25, a P/E ratio of 749.51, a price-to-earnings-growth ratio of 5.86 and a beta of 1.25.
A number of research firms have commented on CRM. Guggenheim reissued a “buy” rating and set a $128.00 target price on shares of salesforce.com in a research report on Thursday, January 11th. Cleveland Research began coverage on shares of salesforce.com in a research report on Wednesday, January 31st. They set a “buy” rating on the stock. Argus raised their target price on shares of salesforce.com to $141.00 and gave the company a “buy” rating in a research report on Friday, March 2nd. Cowen reissued a “buy” rating and set a $118.00 target price on shares of salesforce.com in a research report on Tuesday, November 21st. Finally, Vetr raised shares of salesforce.com from a “hold” rating to a “buy” rating and set a $113.54 target price on the stock in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $123.51.
In other news, Chairman Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $125.03, for a total transaction of $625,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Conway sold 250 shares of salesforce.com stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $110.85, for a total transaction of $27,712.50. Following the transaction, the director now directly owns 8,908 shares of the company’s stock, valued at $987,451.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 248,557 shares of company stock valued at $27,603,409. Insiders own 6.20% of the company’s stock.
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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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