Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Salesforce.com Inc (NYSE:CRM) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,753 shares of the CRM provider’s stock after purchasing an additional 6,131 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Salesforce.com were worth $10,253,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. BT Investment Management Ltd lifted its holdings in shares of Salesforce.com by 8.2% during the 3rd quarter. BT Investment Management Ltd now owns 26,610 shares of the CRM provider’s stock worth $2,486,000 after acquiring an additional 2,019 shares during the period. State Board of Administration of Florida Retirement System increased its position in Salesforce.com by 0.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 964,467 shares of the CRM provider’s stock valued at $90,101,000 after acquiring an additional 7,550 shares in the last quarter. Whalerock Point Partners LLC increased its position in Salesforce.com by 16.1% in the 3rd quarter. Whalerock Point Partners LLC now owns 3,615 shares of the CRM provider’s stock valued at $338,000 after acquiring an additional 500 shares in the last quarter. Andra AP fonden increased its position in Salesforce.com by 61.2% in the 3rd quarter. Andra AP fonden now owns 27,400 shares of the CRM provider’s stock valued at $2,560,000 after acquiring an additional 10,400 shares in the last quarter. Finally, Middleton & Co Inc MA increased its position in Salesforce.com by 22.5% in the 3rd quarter. Middleton & Co Inc MA now owns 112,624 shares of the CRM provider’s stock valued at $10,521,000 after acquiring an additional 20,685 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.
CRM has been the subject of several analyst reports. Mizuho reiterated a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Salesforce.com in a research report on Monday. Zacks Investment Research cut shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Royal Bank Of Canada restated a “buy” rating on shares of Salesforce.com in a report on Thursday, November 9th. UBS AG assumed coverage on shares of Salesforce.com in a report on Thursday, November 9th. They set a “buy” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Salesforce.com in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have given a buy rating to the company’s stock. Salesforce.com presently has an average rating of “Buy” and a consensus target price of $107.37.
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Shares of Salesforce.com Inc (NYSE CRM) traded up $0.45 during mid-day trading on Wednesday, reaching $106.23. The company’s stock had a trading volume of 4,366,800 shares, compared to its average volume of 4,365,185. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $106.38. The company has a market capitalization of $76,350.00, a P/E ratio of 528.90, a P/E/G ratio of 10.49 and a beta of 1.23.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis. equities analysts forecast that Salesforce.com Inc will post 0.4 EPS for the current year.
In other news, insider Alexandre Dayon sold 124,331 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $99.00, for a total value of $12,308,769.00. Following the sale, the insider now directly owns 154,406 shares of the company’s stock, valued at $15,286,194. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 8,026 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $105.96, for a total value of $850,434.96. Following the completion of the sale, the insider now directly owns 19,261 shares in the company, valued at $2,040,895.56. The disclosure for this sale can be found here. Insiders have sold 543,693 shares of company stock worth $52,973,919 over the last three months. Insiders own 6.20% of the company’s stock.
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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