Tocqueville Asset Management L.P. Has $12.12 Million Position in Salesforce.com Inc (CRM)

Tocqueville Asset Management L.P. increased its position in Salesforce.com Inc (NYSE:CRM) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,715 shares of the CRM provider’s stock after buying an additional 1,945 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Salesforce.com were worth $12,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Dimensional Fund Advisors LP increased its position in Salesforce.com by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 707,362 shares of the CRM provider’s stock valued at $58,350,000 after purchasing an additional 21,297 shares during the period. Macquarie Group Ltd. increased its position in Salesforce.com by 1.2% during the 1st quarter. Macquarie Group Ltd. now owns 448,751 shares of the CRM provider’s stock valued at $37,017,000 after purchasing an additional 5,173 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Salesforce.com by 10.3% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 18,194 shares of the CRM provider’s stock valued at $1,501,000 after purchasing an additional 1,694 shares during the period. Covington Capital Management increased its position in Salesforce.com by 16.6% during the 1st quarter. Covington Capital Management now owns 4,627 shares of the CRM provider’s stock valued at $382,000 after purchasing an additional 659 shares during the period. Finally, Lucha Capital Management LP increased its position in Salesforce.com by 113.4% during the 1st quarter. Lucha Capital Management LP now owns 149,793 shares of the CRM provider’s stock valued at $12,356,000 after purchasing an additional 79,593 shares during the period. 86.06% of the stock is currently owned by institutional investors.

CRM has been the topic of a number of research analyst reports. J P Morgan Chase & Co reissued a “buy” rating and set a $95.00 price objective on shares of Salesforce.com in a research report on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and set a $111.00 price objective on shares of Salesforce.com in a research report on Wednesday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 price objective on shares of Salesforce.com in a research report on Wednesday. Vetr downgraded shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price objective on the stock. in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $90.00 price objective (down from $95.00) on shares of Salesforce.com in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and forty-six have assigned a buy rating to the stock. Salesforce.com presently has an average rating of “Buy” and a consensus price target of $104.25.

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In other Salesforce.com news, Chairman Marc Benioff sold 30,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $90.31, for a total transaction of $2,709,300.00. Following the sale, the chairman now owns 34,195,300 shares in the company, valued at approximately $3,088,177,543. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $102.17, for a total value of $1,021,700.00. Following the sale, the insider now owns 24,154 shares in the company, valued at approximately $2,467,814.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 544,173 shares of company stock worth $52,389,296. 6.20% of the stock is owned by corporate insiders.

Shares of Salesforce.com Inc (CRM) traded up $0.11 on Friday, reaching $102.71. The company had a trading volume of 3,270,000 shares, compared to its average volume of 3,490,000. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.77 and a current ratio of 0.77. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $103.92. The company has a market capitalization of $73.82 billion, a P/E ratio of 513.00, a PEG ratio of 9.78 and a beta of 1.23.

Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company earned $0.24 EPS. Salesforce.com’s revenue was up 25.7% on a year-over-year basis. sell-side analysts anticipate that Salesforce.com Inc will post 0.4 EPS for the current year.

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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