Federated Hermes Inc. Trims Stake in salesforce.com, inc. (NYSE:CRM)
Federated Hermes Inc. reduced its position in shares of salesforce.com, inc. (NYSE:CRM) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 985,758 shares of the CRM provider’s stock after selling 91,768 shares during the quarter. Federated Hermes Inc. owned about 0.11% of salesforce.com worth $141,929,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. NWK Group Inc. purchased a new position in shares of salesforce.com in the 4th quarter valued at $28,000. AlphaCore Capital LLC purchased a new position in shares of salesforce.com in the 1st quarter valued at $28,000. Red Door Wealth Management LLC purchased a new position in shares of salesforce.com in the 1st quarter valued at $29,000. Delta Asset Management LLC TN increased its holdings in shares of salesforce.com by 166.7% in the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 125 shares during the period. Finally, Accurate Investment Solutions Inc. increased its holdings in shares of salesforce.com by 632.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 177 shares during the period. Institutional investors own 81.54% of the company’s stock.
In other salesforce.com news, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $163.10, for a total transaction of $1,631,000.00. 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 225 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $131.00, for a total value of $29,475.00. Following the sale, the director now owns 10,165 shares of the company’s stock, valued at $1,331,615. The disclosure for this sale can be found here. In the last 90 days, insiders sold 388,873 shares of company stock valued at $61,522,603. 4.40% of the stock is owned by company insiders.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 28th. The CRM provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the business earned $0.93 EPS. salesforce.com’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities research analysts expect that salesforce.com, inc. will post 1.1 EPS for the current year.
A number of research analysts have recently issued reports on the company. SunTrust Banks reiterated a “buy” rating and issued a $210.00 price target on shares of salesforce.com in a report on Friday, May 22nd. Stifel Nicolaus lifted their price target on salesforce.com from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America reissued a “buy” rating and issued a $210.00 price objective on shares of salesforce.com in a research report on Thursday, May 14th. Deutsche Bank raised their price objective on salesforce.com from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Cfra raised their price objective on salesforce.com from $222.00 to $225.00 and gave the stock a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have issued a buy rating and two have given a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and a consensus price target of $198.15.
salesforce.com Company Profile
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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