Mason Street Advisors LLC lifted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,944 shares of the CRM provider’s stock after purchasing an additional 14,195 shares during the quarter. Mason Street Advisors LLC’s holdings in salesforce.com were worth $18,547,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC bought a new position in shares of salesforce.com during the second quarter worth about $26,000. Investors Research Corp grew its holdings in shares of salesforce.com by 159.1% during the third quarter. Investors Research Corp now owns 171 shares of the CRM provider’s stock worth $25,000 after buying an additional 105 shares in the last quarter. Personal Wealth Partners bought a new position in shares of salesforce.com during the second quarter worth about $28,000. Acima Private Wealth LLC grew its holdings in shares of salesforce.com by 250.0% during the third quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock worth $28,000 after buying an additional 135 shares in the last quarter. Finally, Strategic Blueprint LLC bought a new position in shares of salesforce.com during the third quarter worth about $30,000. 73.98% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on CRM. Stephens set a $184.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. set a $180.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Friday, August 23rd. FBN Securities set a $200.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays reiterated a “buy” rating and set a $189.00 price objective on shares of salesforce.com in a report on Friday, November 1st. Finally, TheStreet downgraded salesforce.com from a “b” rating to a “c” rating in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and a consensus price target of $184.74.
Shares of CRM traded up $0.67 during mid-day trading on Monday, reaching $161.78. The company’s stock had a trading volume of 3,525,895 shares, compared to its average volume of 5,756,425. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56. The stock has a market cap of $138.70 billion, a P/E ratio of 111.57, a PEG ratio of 6.77 and a beta of 1.22. The business has a 50-day simple moving average of $150.88 and a two-hundred day simple moving average of $153.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.57. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. Research analysts anticipate that salesforce.com, inc. will post 1.25 EPS for the current year.
In related news, Director Sanford Robertson sold 25,000 shares of salesforce.com stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the completion of the sale, the director now directly owns 124,017 shares of the company’s stock, valued at approximately $19,305,726.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $143.64, for a total value of $89,056.80. Following the sale, the insider now directly owns 30,092 shares of the company’s stock, valued at $4,322,414.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,026 shares of company stock valued at $37,873,384. Insiders own 5.50% of the company’s stock.
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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