Private Ocean LLC boosted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 197.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226 shares of the CRM provider’s stock after purchasing an additional 150 shares during the quarter. Private Ocean LLC’s holdings in salesforce.com were worth $34,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Bray Capital Advisors boosted its position in shares of salesforce.com by 0.3% in the 3rd quarter. Bray Capital Advisors now owns 23,420 shares of the CRM provider’s stock valued at $3,476,000 after purchasing an additional 65 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of salesforce.com by 4.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,472 shares of the CRM provider’s stock valued at $218,000 after purchasing an additional 65 shares during the period. Citizens Financial Group Inc RI boosted its position in shares of salesforce.com by 21.9% in the 3rd quarter. Citizens Financial Group Inc RI now owns 379 shares of the CRM provider’s stock valued at $56,000 after purchasing an additional 68 shares during the period. Allred Capital Management LLC boosted its position in shares of salesforce.com by 1.6% in the 2nd quarter. Allred Capital Management LLC now owns 4,494 shares of the CRM provider’s stock valued at $692,000 after purchasing an additional 71 shares during the period. Finally, Clear Perspective Advisors LLC boosted its position in shares of salesforce.com by 4.6% in the 2nd quarter. Clear Perspective Advisors LLC now owns 1,646 shares of the CRM provider’s stock valued at $250,000 after purchasing an additional 72 shares during the period. 73.98% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Macquarie upped their target price on salesforce.com from $184.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Compass Point set a $193.00 target price on salesforce.com and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $171.00 target price on shares of salesforce.com in a research report on Tuesday, October 8th. Barclays reissued a “buy” rating and issued a $189.00 target price on shares of salesforce.com in a research report on Friday, November 1st. Finally, ValuEngine cut salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $184.74.
In other news, Director Sanford Robertson sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the completion of the transaction, the director now directly owns 124,017 shares of the company’s stock, valued at approximately $19,305,726.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $140.98, for a total value of $1,409,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,026 shares of company stock valued at $39,295,084. Company insiders own 5.50% of the company’s stock.
Shares of CRM stock traded up $1.61 during trading hours on Friday, reaching $161.11. 3,152,878 shares of the company’s stock were exchanged, compared to its average volume of 5,756,425. The company has a market cap of $138.70 billion, a P/E ratio of 111.11, a price-to-earnings-growth ratio of 6.77 and a beta of 1.22. The company’s 50 day moving average is $150.88 and its two-hundred day moving average is $153.17. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.
salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.57. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. As a group, analysts predict that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.
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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