Wakefield Asset Management LLLP Makes New Investment in salesforce.com, inc. (NYSE:CRM)

Wakefield Asset Management LLLP acquired a new position in shares of salesforce.com, inc. (NYSE:CRM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,781 shares of the CRM provider’s stock, valued at approximately $1,412,000.

Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its position in salesforce.com by 11.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,776 shares of the CRM provider’s stock worth $9,960,000 after buying an additional 4,053 shares during the period. Bfsg LLC increased its position in shares of salesforce.com by 8.1% in the second quarter. Bfsg LLC now owns 14,740 shares of the CRM provider’s stock worth $3,601,000 after purchasing an additional 1,110 shares during the period. Summitry LLC bought a new position in shares of salesforce.com in the first quarter worth $24,633,000. TIG Advisors LLC increased its position in shares of salesforce.com by 221.4% in the first quarter. TIG Advisors LLC now owns 26,812 shares of the CRM provider’s stock worth $5,681,000 after purchasing an additional 18,470 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its position in shares of salesforce.com by 118.3% in the second quarter. Jaffetilchin Investment Partners LLC now owns 8,667 shares of the CRM provider’s stock worth $2,016,000 after purchasing an additional 4,697 shares during the period. Hedge funds and other institutional investors own 77.33% of the company’s stock.

A number of research analysts recently commented on the company. Sanford C. Bernstein raised their price target on salesforce.com from $266.00 to $290.00 and gave the stock a “market perform” rating in a research report on Thursday, August 26th. Raymond James lifted their target price on salesforce.com from $280.00 to $340.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 26th. Loop Capital lifted their target price on salesforce.com from $235.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, August 27th. BMO Capital Markets lifted their target price on salesforce.com from $280.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. Finally, The Goldman Sachs Group set a $350.00 target price on salesforce.com in a research report on Wednesday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, salesforce.com currently has a consensus rating of “Buy” and an average price target of $298.33.

CRM stock traded up $0.64 during midday trading on Wednesday, hitting $255.01. The company’s stock had a trading volume of 45,550 shares, compared to its average volume of 6,409,822. The stock’s 50-day moving average price is $251.35 and its 200 day moving average price is $235.19. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. salesforce.com, inc. has a 1 year low of $201.51 and a 1 year high of $275.22. The stock has a market cap of $249.65 billion, a price-to-earnings ratio of 102.16, a PEG ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. As a group, equities analysts forecast that salesforce.com, inc. will post 2.09 earnings per share for the current fiscal year.

In related news, insider Parker Harris sold 4,300 shares of the stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $265.45, for a total transaction of $1,141,435.00. Following the sale, the insider now owns 87,173 shares of the company’s stock, valued at approximately $23,140,072.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of the stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $244.65, for a total value of $4,893,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 776,356 shares of company stock worth $194,260,597 in the last ninety days. Insiders own 4.10% of the company’s stock.

salesforce.com Profile

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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