Harbour Capital Advisors LLC Has $15.69 Million Position in Salesforce.com Inc (CRM)

Harbour Capital Advisors LLC increased its position in shares of Salesforce.com Inc (NYSE:CRM) by 8,573.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,358,321 shares of the CRM provider’s stock after buying an additional 1,342,661 shares during the period. Harbour Capital Advisors LLC owned approximately 0.19% of Salesforce.com worth $15,685,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Macquarie Group Ltd. boosted its stake in shares of Salesforce.com by 2.3% in the fourth quarter. Macquarie Group Ltd. now owns 443,578 shares of the CRM provider’s stock valued at $30,368,000 after buying an additional 10,128 shares during the period. Private Asset Management Inc. raised its stake in shares of Salesforce.com by 58.8% in the first quarter. Private Asset Management Inc. now owns 11,095 shares of the CRM provider’s stock valued at $915,000 after buying an additional 4,110 shares in the last quarter. Cohen Lawrence B raised its position in shares of Salesforce.com by 142.8% in the first quarter. Cohen Lawrence B now owns 15,940 shares of the CRM provider’s stock worth $1,315,000 after buying an additional 9,375 shares during the period. Rosenbaum Jay D. purchased a new position in shares of Salesforce.com during the first quarter worth about $477,000. Finally, Moreno Evelyn V purchased a new position in shares of Salesforce.com during the first quarter worth about $3,867,000. Institutional investors and hedge funds own 86.29% of the company’s stock.

Salesforce.com Inc (NYSE:CRM) traded down 0.13% during mid-day trading on Friday, hitting $90.76. 3,046,785 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $89.63 and a 200 day moving average of $86.11. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $92.49. The stock has a market capitalization of $64.64 billion, a P/E ratio of 480.21 and a beta of 1.29.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. Salesforce.com’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Equities analysts forecast that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on CRM shares. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 target price for the company in a research note on Monday, May 15th. Zacks Investment Research lowered Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Credit Suisse Group started coverage on Salesforce.com in a research report on Thursday, April 27th. They set an “outperform” rating and a $110.00 target price on the stock. Royal Bank Of Canada restated a “buy” rating and set a $102.00 target price on shares of Salesforce.com in a research report on Monday, July 31st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Sunday, May 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the stock. Salesforce.com has a consensus rating of “Buy” and a consensus price target of $97.31.

In other Salesforce.com news, insider Amy E. Weaver sold 1,400 shares of Salesforce.com stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $87.04, for a total transaction of $121,856.00. Following the completion of the transaction, the insider now directly owns 16,513 shares of the company’s stock, valued at $1,437,291.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of Salesforce.com stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $88.46, for a total transaction of $884,600.00. Following the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at $3,024,916,238. The disclosure for this sale can be found here. Insiders have sold a total of 1,333,410 shares of company stock worth $119,961,863 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.

About Salesforce.com

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.

Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

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