First Hawaiian Bank bought a new position in salesforce.com, inc. (NYSE:CRM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,865 shares of the CRM provider’s stock, valued at approximately $2,841,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atlas Brown Inc. grew its holdings in shares of salesforce.com by 11.6% in the 2nd quarter. Atlas Brown Inc. now owns 3,328 shares of the CRM provider’s stock worth $474,000 after acquiring an additional 345 shares during the last quarter. Lyell Wealth Management LP grew its holdings in shares of salesforce.com by 0.9% during the second quarter. Lyell Wealth Management LP now owns 37,483 shares of the CRM provider’s stock valued at $5,113,000 after buying an additional 348 shares in the last quarter. Newport Wealth Strategies Inc. grew its holdings in shares of salesforce.com by 17.7% during the second quarter. Newport Wealth Strategies Inc. now owns 2,349 shares of the CRM provider’s stock valued at $320,000 after buying an additional 353 shares in the last quarter. Zeke Capital Advisors LLC grew its holdings in shares of salesforce.com by 2.2% during the second quarter. Zeke Capital Advisors LLC now owns 16,324 shares of the CRM provider’s stock valued at $2,227,000 after buying an additional 356 shares in the last quarter. Finally, ProVise Management Group LLC grew its holdings in shares of salesforce.com by 6.9% during the second quarter. ProVise Management Group LLC now owns 6,160 shares of the CRM provider’s stock valued at $840,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.
In other salesforce.com news, insider Joe Allanson sold 104,277 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $158.33, for a total value of $16,510,177.41. Following the completion of the sale, the insider now owns 134,587 shares of the company’s stock, valued at $21,309,159.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Amy E. Weaver sold 494 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $147.23, for a total value of $72,731.62. Following the completion of the sale, the general counsel now directly owns 20,764 shares of the company’s stock, valued at approximately $3,057,083.72. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 24,000 shares of company stock valued at $3,581,220 and sold 533,432 shares valued at $80,773,576. 6.00% of the stock is owned by insiders.
A number of research analysts have recently weighed in on the company. BMO Capital Markets upgraded salesforce.com to a “top pick” rating in a report on Friday, June 29th. Piper Jaffray Companies lifted their price target on salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 15th. Bank of America lifted their price target on salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a report on Tuesday, August 21st. UBS Group lifted their price target on salesforce.com from $153.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Finally, Argus lifted their price target on salesforce.com from $141.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 31st. Six investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $164.85.
CRM opened at $147.44 on Wednesday. The firm has a market cap of $120.34 billion, a P/E ratio of 327.64, a PEG ratio of 5.23 and a beta of 1.27. salesforce.com, inc. has a 1 year low of $95.93 and a 1 year high of $161.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.24. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.33 earnings per share. As a group, analysts predict that salesforce.com, inc. will post 1.22 earnings per share for the current 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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