Investors Buy salesforce.com (CRM) on Weakness

Investors purchased shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Friday. $106.47 million flowed into the stock on the tick-up and $50.83 million flowed out of the stock on the tick-down, for a money net flow of $55.64 million into the stock. Of all stocks tracked, salesforce.com had the 5th highest net in-flow for the day. salesforce.com traded down ($0.99) for the day and closed at $102.63

Several research firms have commented on CRM. Vetr upgraded shares of salesforce.com from a “hold” rating to a “buy” rating and set a $110.67 price objective for the company in a research report on Tuesday, December 12th. Raymond James Financial reissued a “buy” rating and issued a $125.00 target price on shares of salesforce.com in a research note on Wednesday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of salesforce.com in a research note on Wednesday, November 22nd. Goldman Sachs Group set a $122.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Thursday, November 23rd. Finally, Cowen reissued a “buy” rating and issued a $118.00 target price on shares of salesforce.com in a research note on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and forty-four have assigned a buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $112.59.

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $74,844.73, a price-to-earnings ratio of 10,263.00, a PEG ratio of 9.67 and a beta of 1.24.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. equities analysts expect that salesforce.com, inc. will post 0.43 earnings per share for the current fiscal year.

In other news, insider Parker Harris sold 8,026 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $92.61, for a total value of $743,287.86. Following the sale, the insider now directly owns 51,571 shares in the company, valued at approximately $4,775,990.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig Conway sold 602 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $94.76, for a total transaction of $57,045.52. Following the completion of the sale, the director now owns 9,908 shares in the company, valued at $938,882.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 660,006 shares of company stock worth $67,812,723. 6.20% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Atlantic Trust Group LLC acquired a new stake in salesforce.com in the 3rd quarter worth approximately $30,096,000. Parametric Portfolio Associates LLC boosted its stake in salesforce.com by 23.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,700,014 shares of the CRM provider’s stock worth $158,815,000 after purchasing an additional 322,822 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in salesforce.com by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 469,967 shares of the CRM provider’s stock worth $43,904,000 after purchasing an additional 1,697 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in salesforce.com in the 3rd quarter worth approximately $206,000. Finally, GSA Capital Partners LLP boosted its stake in salesforce.com by 85.3% in the 3rd quarter. GSA Capital Partners LLP now owns 8,909 shares of the CRM provider’s stock worth $832,000 after purchasing an additional 4,100 shares in the last quarter. Institutional investors own 85.57% of the company’s stock.

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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.

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