Millennium Management LLC decreased its position in salesforce.com, inc. (NYSE:CRM) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,805,252 shares of the CRM provider’s stock after selling 529,461 shares during the quarter. Millennium Management LLC owned approximately 0.25% of salesforce.com worth $184,551,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sandy Spring Bank grew its stake in shares of salesforce.com by 1.7% in the 4th quarter. Sandy Spring Bank now owns 27,382 shares of the CRM provider’s stock worth $2,799,000 after acquiring an additional 470 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of salesforce.com by 16.3% in the 3rd quarter. King Luther Capital Management Corp now owns 3,414 shares of the CRM provider’s stock worth $319,000 after acquiring an additional 479 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of salesforce.com by 17.5% in the 4th quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock worth $334,000 after acquiring an additional 485 shares in the last quarter. BB&T Corp grew its stake in shares of salesforce.com by 2.6% in the 4th quarter. BB&T Corp now owns 20,751 shares of the CRM provider’s stock worth $2,121,000 after acquiring an additional 533 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its stake in shares of salesforce.com by 23.6% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 2,826 shares of the CRM provider’s stock worth $289,000 after acquiring an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.
CRM has been the subject of several recent analyst reports. Citigroup upped their target price on shares of salesforce.com from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Vetr lowered shares of salesforce.com from a “buy” rating to a “hold” rating and set a $107.78 price target for the company. in a research report on Monday, December 11th. Stifel Nicolaus increased their price target on shares of salesforce.com from $120.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Cowen increased their price target on shares of salesforce.com from $118.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer restated a “buy” rating and set a $125.00 price target (up previously from $100.00) on shares of salesforce.com in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $123.51.
salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.81 billion. salesforce.com had a net margin of 1.22% and a return on equity of 3.86%. salesforce.com’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. equities analysts anticipate that salesforce.com, inc. will post 0.9 EPS for the current fiscal year.
In related news, insider Amy E. Weaver sold 11,107 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $103.29, for a total value of $1,147,242.03. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Craig Conway sold 1,548 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $104.63, for a total transaction of $161,967.24. Following the completion of the sale, the director now directly owns 9,614 shares in the company, valued at $1,005,912.82. The disclosure for this sale can be found here. Insiders sold 265,307 shares of company stock worth $29,733,909 over the last ninety days. 6.20% of the stock is currently owned by insiders.
TRADEMARK VIOLATION WARNING: This piece of content was first published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/03/14/salesforce-com-inc-crm-stake-lessened-by-millennium-management-llc.html.
salesforce.com Company Profile
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.
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.