YHB Investment Advisors Inc. bought a new stake in salesforce.com, inc. (NYSE:CRM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,407 shares of the CRM provider’s stock, valued at approximately $224,000.
Other institutional investors also recently bought and sold shares of the company. One Capital Management LLC acquired a new stake in salesforce.com in the 3rd quarter valued at approximately $212,000. Metropolitan Life Insurance Co. NY increased its holdings in salesforce.com by 4.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 142,379 shares of the CRM provider’s stock valued at $19,420,000 after purchasing an additional 5,892 shares during the last quarter. First Heartland Consultants Inc. acquired a new stake in salesforce.com in the 2nd quarter valued at approximately $284,000. Polaris Greystone Financial Group LLC acquired a new stake in salesforce.com in the 3rd quarter valued at approximately $220,000. Finally, Korea Investment CORP grew its stake in shares of salesforce.com by 33.0% in the second quarter. Korea Investment CORP now owns 679,162 shares of the CRM provider’s stock worth $92,638,000 after acquiring an additional 168,500 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.
Several research firms have recently issued reports on CRM. Bank of America lifted their price objective on shares of salesforce.com from $161.00 to $181.00 and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Jefferies Financial Group lifted their price objective on shares of salesforce.com from $172.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Piper Jaffray Companies lifted their price objective on shares of salesforce.com from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, September 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $178.00 price objective on shares of salesforce.com in a research report on Tuesday, October 2nd. Finally, Argus lifted their price objective on shares of salesforce.com from $141.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Six research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $165.25.
salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. As a group, sell-side analysts predict that salesforce.com, inc. will post 1.22 EPS for the current year.
In other salesforce.com news, Director Susan Wojcicki acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $146.38 per share, with a total value of $878,280.00. Following the completion of the transaction, the director now directly owns 83,426 shares of the company’s stock, valued at $12,211,897.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $138.69, for a total transaction of $693,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 18,000 shares of company stock worth $2,703,900 and have sold 518,278 shares worth $78,207,613. Insiders own 6.00% of the company’s stock.
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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