Riverhead Capital Management LLC Boosts Position in salesforce.com, inc. (NYSE:CRM)

Riverhead Capital Management LLC boosted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 16.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,814 shares of the CRM provider’s stock after purchasing an additional 3,638 shares during the period. Riverhead Capital Management LLC’s holdings in salesforce.com were worth $4,088,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRM. Vanguard Group Inc boosted its position in salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock worth $8,662,570,000 after purchasing an additional 2,398,648 shares during the period. BlackRock Inc. boosted its position in salesforce.com by 4.7% during the first quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock worth $8,498,982,000 after purchasing an additional 2,395,193 shares during the period. Jennison Associates LLC boosted its position in salesforce.com by 1.2% during the first quarter. Jennison Associates LLC now owns 19,902,070 shares of the CRM provider’s stock worth $3,151,891,000 after purchasing an additional 230,376 shares during the period. Northern Trust Corp boosted its position in salesforce.com by 1.3% during the first quarter. Northern Trust Corp now owns 10,683,259 shares of the CRM provider’s stock worth $1,691,907,000 after purchasing an additional 140,368 shares during the period. Finally, Geode Capital Management LLC boosted its position in salesforce.com by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 8,972,048 shares of the CRM provider’s stock worth $1,226,559,000 after purchasing an additional 625,285 shares during the period. Institutional investors own 82.14% of the company’s stock.

A number of equities analysts have weighed in on the stock. Credit Suisse Group set a $175.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Royal Bank of Canada set a $183.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Zacks Investment Research lowered shares of salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. UBS Group set a $190.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Sanford C. Bernstein reissued a “neutral” rating and issued a $169.00 price target on shares of salesforce.com in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $180.03.

Shares of CRM opened at $150.01 on Friday. The company has a market capitalization of $116.41 billion, a P/E ratio of 103.46, a P/E/G ratio of 5.40 and a beta of 1.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. salesforce.com’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. On average, analysts anticipate that salesforce.com, inc. will post 1.21 EPS for the current fiscal year.

In related news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $161.51, for a total value of $1,615,100.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $163.84, for a total transaction of $138,608.64. Following the completion of the sale, the insider now directly owns 20,348 shares in the company, valued at $3,333,816.32. The disclosure for this sale can be found here. Insiders sold 426,279 shares of company stock worth $67,663,581 over the last ninety days. 5.50% of the stock is currently owned by insiders.

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About salesforce.com

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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