Whalerock Point Partners LLC grew its position in shares of Salesforce.com Inc (NYSE:CRM) by 16.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,615 shares of the CRM provider’s stock after acquiring an additional 500 shares during the period. Whalerock Point Partners LLC’s holdings in Salesforce.com were worth $338,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Andra AP fonden boosted its position in shares of Salesforce.com by 61.2% in the 3rd quarter. Andra AP fonden now owns 27,400 shares of the CRM provider’s stock worth $2,560,000 after purchasing an additional 10,400 shares in the last quarter. Middleton & Co Inc MA lifted its holdings in shares of Salesforce.com by 22.5% during the 3rd quarter. Middleton & Co Inc MA now owns 112,624 shares of the CRM provider’s stock valued at $10,521,000 after buying an additional 20,685 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of Salesforce.com by 1.5% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 129,715 shares of the CRM provider’s stock worth $12,118,000 after purchasing an additional 1,945 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Salesforce.com by 68.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 926,584 shares of the CRM provider’s stock worth $86,561,000 after purchasing an additional 375,600 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in shares of Salesforce.com by 61.5% in the 3rd quarter. Westpac Banking Corp now owns 168,929 shares of the CRM provider’s stock worth $15,781,000 after purchasing an additional 64,308 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.
CRM has been the subject of a number of analyst reports. BMO Capital Markets increased their price target on Salesforce.com to $112.00 and gave the stock an “outperform” rating in a research note on Friday. Vetr lowered Salesforce.com from a “sell” rating to a “strong sell” rating and set a $90.51 price target for the company. in a research note on Tuesday. Piper Jaffray Companies reiterated a “buy” rating and issued a $115.00 price target on shares of Salesforce.com in a research note on Wednesday. Citigroup Inc. increased their price target on Salesforce.com to $124.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays PLC increased their price target on Salesforce.com from $101.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $104.07.
In other Salesforce.com news, insider Parker Harris sold 8,026 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $102.13, for a total value of $819,695.38. Following the sale, the insider now directly owns 19,261 shares of the company’s stock, valued at approximately $1,967,125.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Keith Block sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $102.17, for a total transaction of $1,021,700.00. Following the completion of the sale, the insider now directly owns 24,154 shares in the company, valued at $2,467,814.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 544,173 shares of company stock worth $52,389,296. 6.20% of the stock is owned by company insiders.
Salesforce.com Inc (NYSE:CRM) traded up $0.87 during trading on Friday, reaching $102.82. 1,948,638 shares of the company’s stock were exchanged, compared to its average volume of 3,325,402. The company has a market cap of $73,738.62, a price-to-earnings ratio of 513.00 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. equities analysts forecast that Salesforce.com Inc will post 0.4 EPS for the current fiscal year.
Salesforce.com Company Profile
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.
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