AGF Investments LLC Makes New $958,000 Investment in salesforce.com, inc. (NYSE:CRM)

AGF Investments LLC bought a new position in shares of salesforce.com, inc. (NYSE:CRM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,531 shares of the CRM provider’s stock, valued at approximately $958,000.

Several other large investors have also made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of salesforce.com by 13.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 169,855 shares of the CRM provider’s stock worth $41,490,000 after acquiring an additional 20,442 shares in the last quarter. BerganKDV Wealth Management LLC boosted its position in shares of salesforce.com by 33.3% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 400 shares of the CRM provider’s stock worth $98,000 after acquiring an additional 100 shares in the last quarter. AGF Investments Inc. boosted its position in shares of salesforce.com by 474.0% during the 2nd quarter. AGF Investments Inc. now owns 8,025 shares of the CRM provider’s stock worth $1,960,000 after acquiring an additional 6,627 shares in the last quarter. Mission Wealth Management LP boosted its position in shares of salesforce.com by 23.6% during the 2nd quarter. Mission Wealth Management LP now owns 7,588 shares of the CRM provider’s stock worth $1,853,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Apriem Advisors acquired a new stake in shares of salesforce.com during the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 76.46% of the company’s stock.

CRM has been the topic of a number of research analyst reports. Jefferies Financial Group set a $360.00 target price on shares of salesforce.com in a research report on Tuesday, January 4th. Citigroup raised their target price on shares of salesforce.com from $280.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, November 23rd. Robert W. Baird restated a “buy” rating and issued a $315.00 target price on shares of salesforce.com in a research report on Sunday, September 26th. Cowen restated a “buy” rating and issued a $325.00 target price on shares of salesforce.com in a research report on Friday, September 24th. Finally, Atlantic Securities initiated coverage on shares of salesforce.com in a research report on Monday, November 22nd. They issued an “overweight” rating and a $360.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, salesforce.com currently has a consensus rating of “Buy” and an average price target of $324.21.

Shares of NYSE CRM opened at $231.23 on Friday. The stock has a market capitalization of $227.76 billion, a P/E ratio of 127.75, a P/E/G ratio of 5.65 and a beta of 1.06. The company has a 50-day moving average price of $267.09 and a 200-day moving average price of $264.83. salesforce.com, inc. has a 1 year low of $201.51 and a 1 year high of $311.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 30th. The CRM provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.35. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.80 billion. salesforce.com had a net margin of 6.96% and a return on equity of 5.71%. The business’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the company earned $1.27 earnings per share. As a group, equities research analysts anticipate that salesforce.com, inc. will post 2.42 earnings per share for the current fiscal year.

In related news, insider Parker Harris sold 4,300 shares of the business’s stock in a transaction dated Tuesday, October 19th. The shares were sold at an average price of $293.29, for a total transaction of $1,261,147.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction dated Monday, October 18th. The stock was sold at an average price of $291.44, for a total transaction of $5,828,800.00. The disclosure for this sale can be found here. Insiders have sold 364,409 shares of company stock valued at $103,902,231 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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