salesforce.com, inc. (NYSE:CRM) Holdings Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 9,749.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,967 shares of the CRM provider’s stock after acquiring an additional 184,079 shares during the period. salesforce.com comprises 5.1% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 7th biggest position. Harvest Fund Management Co. Ltd’s holdings in salesforce.com were worth $29,574,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atlas Brown Inc. grew its stake in salesforce.com by 11.6% during the 2nd quarter. Atlas Brown Inc. now owns 3,328 shares of the CRM provider’s stock worth $474,000 after buying an additional 345 shares during the last quarter. Lyell Wealth Management LP grew its stake in salesforce.com by 0.9% during the 2nd quarter. Lyell Wealth Management LP now owns 37,483 shares of the CRM provider’s stock worth $5,113,000 after buying an additional 348 shares during the last quarter. Newport Wealth Strategies Inc. grew its stake in salesforce.com by 17.7% during the 2nd quarter. Newport Wealth Strategies Inc. now owns 2,349 shares of the CRM provider’s stock worth $320,000 after buying an additional 353 shares during the last quarter. Zeke Capital Advisors LLC grew its stake in salesforce.com by 2.2% during the 2nd quarter. Zeke Capital Advisors LLC now owns 16,324 shares of the CRM provider’s stock worth $2,227,000 after buying an additional 356 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its stake in shares of salesforce.com by 4.5% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 8,591 shares of the CRM provider’s stock valued at $1,366,000 after purchasing an additional 370 shares during the last quarter. 83.59% of the stock is currently owned by institutional investors.

Several analysts have recently commented on the company. Wedbush raised their price target on salesforce.com from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, August 22nd. Barclays lifted their price objective on salesforce.com from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 15th. Piper Jaffray Companies lifted their price objective on salesforce.com from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 15th. Morgan Stanley raised their price target on salesforce.com from $153.00 to $178.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 14th. Finally, Societe Generale set a $170.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Seven research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $166.84.

Shares of NYSE:CRM traded up $2.92 during trading on Thursday, hitting $123.59. The company’s stock had a trading volume of 7,299,755 shares, compared to its average volume of 7,054,781. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. salesforce.com, inc. has a fifty-two week low of $98.68 and a fifty-two week high of $161.19. The stock has a market cap of $91.31 billion, a price-to-earnings ratio of 274.64, a price-to-earnings-growth ratio of 3.97 and a beta of 1.38.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 27.3% compared to the same quarter last year. On average, equities research analysts predict that salesforce.com, inc. will post 1.22 EPS for the current year.

In related news, insider Cynthia G. Robbins sold 543 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $151.53, for a total value of $82,280.79. Following the completion of the transaction, the insider now directly owns 19,609 shares of the company’s stock, valued at approximately $2,971,351.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amy E. Weaver sold 5,325 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $160.11, for a total value of $852,585.75. Following the completion of the transaction, the insider now directly owns 26,798 shares of the company’s stock, valued at $4,290,627.78. The disclosure for this sale can be found here. Insiders have sold 492,559 shares of company stock valued at $73,468,364 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

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salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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

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