KCL Capital L.P. purchased a new stake in salesforce.com, inc. (NYSE:CRM) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,000 shares of the CRM provider’s stock, valued at approximately $7,127,000. salesforce.com makes up 1.9% of KCL Capital L.P.’s holdings, making the stock its 23rd biggest position.
Other hedge funds have also recently made changes to their positions in the company. Clarius Group LLC boosted its stake in salesforce.com by 111.3% in the 1st quarter. Clarius Group LLC now owns 3,691 shares of the CRM provider’s stock worth $585,000 after buying an additional 1,944 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in salesforce.com in the 1st quarter worth about $89,000. Westpac Banking Corp boosted its stake in salesforce.com by 29.4% in the 1st quarter. Westpac Banking Corp now owns 223,249 shares of the CRM provider’s stock worth $35,356,000 after buying an additional 50,748 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in salesforce.com by 16.4% in the 1st quarter. Riverhead Capital Management LLC now owns 25,814 shares of the CRM provider’s stock worth $4,088,000 after buying an additional 3,638 shares during the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in salesforce.com in the 1st quarter worth about $614,000. Institutional investors and hedge funds own 82.14% of the company’s stock.
A number of brokerages have issued reports on CRM. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a research note on Monday, May 20th. Nomura reissued a “buy” rating on shares of salesforce.com in a research note on Tuesday, May 28th. UBS Group set a $190.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Exane BNP Paribas began coverage on salesforce.com in a research note on Friday, March 29th. They issued an “outperform” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $192.00 price target on shares of salesforce.com in a research note on Friday, May 31st. Four investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com has a consensus rating of “Buy” and an average target price of $180.03.
Shares of salesforce.com stock traded down $1.33 during trading hours on Friday, reaching $150.01. The stock had a trading volume of 6,247,280 shares, compared to its average volume of 7,394,438. The company has a market cap of $116.41 billion, a price-to-earnings ratio of 103.46, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. Research analysts anticipate that salesforce.com, inc. will post 1.21 EPS for the current year.
In related news, CEO Keith Block sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $151.45, for a total transaction of $378,625.00. Following the sale, the chief executive officer now directly owns 31,017 shares in the company, valued at approximately $4,697,524.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $163.84, for a total value of $138,608.64. Following the sale, the insider now owns 20,348 shares in the company, valued at $3,333,816.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 426,279 shares of company stock worth $67,663,581. Company insiders own 5.50% 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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