Caxton Associates LP acquired a new position in salesforce.com, inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,745 shares of the CRM provider’s stock, valued at approximately $1,303,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Gardner Lewis Asset Management L P boosted its holdings in salesforce.com by 6.9% in the 4th quarter. Gardner Lewis Asset Management L P now owns 85,682 shares of the CRM provider’s stock worth $8,759,000 after buying an additional 5,517 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in salesforce.com in the 4th quarter worth about $22,746,000. Fred Alger Management Inc. boosted its holdings in 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 buying an additional 76,255 shares during the last quarter. Social Capital PEP Management LLC acquired a new stake in salesforce.com in the 4th quarter worth about $12,612,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in salesforce.com by 148.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 207,631 shares of the CRM provider’s stock worth $21,226,000 after buying an additional 124,071 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.
salesforce.com, inc. (NYSE CRM) opened at $127.41 on Friday. The company has a market cap of $92,790.00, a price-to-earnings ratio of 749.47, a price-to-earnings-growth ratio of 5.81 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.82. salesforce.com, inc. has a 12 month low of $80.50 and a 12 month high of $127.50.
CRM has been the topic of a number of research reports. Zacks Investment Research lowered shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday. Vetr raised shares of salesforce.com from a “sell” rating to a “hold” rating and set a $130.00 target price on the stock in a research note on Thursday. Robert W. Baird reissued a “buy” rating on shares of salesforce.com in a research note on Thursday, March 1st. TheStreet raised shares of salesforce.com from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Finally, Argus raised their target price on shares of salesforce.com to $141.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $122.77.
In other salesforce.com news, insider Mark J. Hawkins sold 39,780 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $103.72, for a total value of $4,125,981.60. Following the completion of the transaction, the insider now owns 58,719 shares in the company, valued at $6,090,334.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. In the last 90 days, insiders sold 288,337 shares of company stock valued at $31,729,390. 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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