Gilbert & Cook Inc. acquired a new position in shares of salesforce.com, inc. (NYSE:CRM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,881 shares of the CRM provider’s stock, valued at approximately $279,000.
Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of salesforce.com by 10.1% in the third quarter. Parkside Financial Bank & Trust now owns 980 shares of the CRM provider’s stock valued at $145,000 after acquiring an additional 90 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of salesforce.com by 67.9% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 12,393 shares of the CRM provider’s stock valued at $1,840,000 after acquiring an additional 5,011 shares in the last quarter. Whitnell & Co. purchased a new stake in shares of salesforce.com in the third quarter valued at about $79,000. Lenox Wealth Management Inc. boosted its holdings in shares of salesforce.com by 51.7% in the third quarter. Lenox Wealth Management Inc. now owns 1,647 shares of the CRM provider’s stock valued at $244,000 after acquiring an additional 561 shares in the last quarter. Finally, Cornerstone Wealth Group LLC boosted its holdings in shares of salesforce.com by 4.4% in the third quarter. Cornerstone Wealth Group LLC now owns 6,745 shares of the CRM provider’s stock valued at $1,001,000 after acquiring an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.
Shares of NYSE:CRM traded up $1.61 on Friday, reaching $161.11. 3,152,878 shares of the company’s stock were exchanged, compared to its average volume of 5,756,425. The firm has a market capitalization of $138.70 billion, a price-to-earnings ratio of 111.11, a PEG ratio of 6.77 and a beta of 1.22. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The business’s 50-day moving average is $150.88 and its two-hundred day moving average is $153.17. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31.
salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Analysts predict that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.
In other salesforce.com news, insider Parker Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $143.64, for a total transaction of $89,056.80. Following the completion of the sale, the insider now directly owns 30,092 shares of the company’s stock, valued at $4,322,414.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Joe Allanson sold 167 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $154.07, for a total transaction of $25,729.69. Following the sale, the chief accounting officer now directly owns 30,958 shares of the company’s stock, valued at $4,769,699.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,026 shares of company stock valued at $39,295,084. Insiders own 5.50% of the company’s stock.
Several analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $184.00 price objective (down previously from $192.00) on shares of salesforce.com in a research note on Tuesday, August 20th. 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, August 28th. Zacks Investment Research cut shares of salesforce.com from a “buy” rating to a “hold” rating and set a $166.00 target price for the company. in a research report on Thursday, October 31st. SunTrust Banks set a $189.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Nomura lifted their target price on shares of salesforce.com from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $184.74.
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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