Alps Advisors Inc. purchased a new stake in salesforce.com, inc. (NYSE:CRM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,969 shares of the CRM provider’s stock, valued at approximately $541,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Adviser Investments LLC lifted its holdings in shares of salesforce.com by 277.9% in the 2nd quarter. Adviser Investments LLC now owns 2,347 shares of the CRM provider’s stock valued at $320,000 after buying an additional 1,726 shares during the period. CIBC Private Wealth Group LLC raised its holdings in salesforce.com by 3.4% during the second quarter. CIBC Private Wealth Group LLC now owns 505,728 shares of the CRM provider’s stock worth $68,981,000 after purchasing an additional 16,622 shares during the last quarter. Sigma Planning Corp raised its holdings in salesforce.com by 340.6% during the second quarter. Sigma Planning Corp now owns 29,692 shares of the CRM provider’s stock worth $4,050,000 after purchasing an additional 22,953 shares during the last quarter. Bank of The Ozarks raised its holdings in salesforce.com by 7.4% during the second quarter. Bank of The Ozarks now owns 12,779 shares of the CRM provider’s stock worth $1,743,000 after purchasing an additional 882 shares during the last quarter. Finally, West Branch Capital LLC acquired a new position in salesforce.com during the second quarter worth $1,793,000. 85.25% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on CRM. Canaccord Genuity reaffirmed a “buy” rating on shares of salesforce.com in a report on Thursday, June 28th. Macquarie lifted their price objective on salesforce.com from $157.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, August 30th. Jefferies Financial Group lifted their price objective on salesforce.com to $168.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Pivotal Research lifted their price objective on salesforce.com from $120.00 to $140.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research raised salesforce.com from a “hold” rating to a “strong-buy” rating and set a $176.00 price objective for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. salesforce.com presently has an average rating of “Buy” and a consensus target price of $158.56.
Shares of NYSE:CRM opened at $150.43 on Friday. The firm has a market capitalization of $112.48 billion, a PE ratio of 334.29, a price-to-earnings-growth ratio of 4.89 and a beta of 1.27. The company has a quick ratio of 1.29, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. salesforce.com, inc. has a 52 week low of $92.11 and a 52 week high of $154.97.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.24. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. research analysts anticipate that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.
In other news, Director John Victor Roos sold 176 shares of salesforce.com stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $145.80, for a total value of $25,660.80. Following the completion of the sale, the director now owns 13,217 shares of the company’s stock, valued at $1,927,038.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Amy E. Weaver sold 5,325 shares of salesforce.com stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $152.00, for a total value of $809,400.00. Following the completion of the sale, the general counsel now directly owns 26,798 shares of the company’s stock, valued at approximately $4,073,296. The disclosure for this sale can be found here. In the last ninety days, insiders bought 18,000 shares of company stock valued at $2,584,260 and sold 504,300 shares valued at $71,888,639. 6.00% of the stock is owned by insiders.
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.
Featured Article: Hedge Funds – How They Work For Investors
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).
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.