salesforce.com, inc. (CRM) Shares Bought by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

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Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in salesforce.com, inc. (NYSE:CRM) by 858.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 115,574 shares of the CRM provider’s stock after buying an additional 103,521 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in salesforce.com were worth $18,380,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Botty Investors LLC bought a new position in salesforce.com in the 3rd quarter valued at $123,000. Resources Investment Advisors Inc. boosted its position in salesforce.com by 328.2% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock valued at $172,000 after buying an additional 965 shares during the last quarter. CWM LLC boosted its position in salesforce.com by 95.8% in the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock valued at $180,000 after buying an additional 645 shares during the last quarter. United Capital Management of KS Inc. bought a new position in salesforce.com in the 3rd quarter valued at $193,000. Finally, Sky Investment Group LLC bought a new position in salesforce.com in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

In other news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $137.17, for a total value of $685,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy E. Weaver sold 5,325 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $160.11, for a total value of $852,585.75. Following the completion of the transaction, the insider now owns 26,798 shares of the company’s stock, valued at approximately $4,290,627.78. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 18,000 shares of company stock valued at $2,703,900 and have sold 513,813 shares valued at $77,544,060. 6.00% of the stock is currently owned by corporate insiders.

CRM stock opened at $137.24 on Thursday. The stock has a market cap of $100.01 billion, a price-to-earnings ratio of 304.98, a PEG ratio of 4.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. salesforce.com, inc. has a 1 year low of $98.68 and a 1 year high of $161.19.

salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.24. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The company’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. As a group, sell-side analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current year.

A number of research analysts have commented on the company. Cowen increased their price objective on salesforce.com from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, September 27th. Credit Suisse Group set a $175.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Thursday, September 27th. Deutsche Bank increased their price objective on salesforce.com from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, September 28th. Piper Jaffray Companies increased their price objective on salesforce.com from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, September 28th. Finally, Robert W. Baird increased their price target on salesforce.com from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 28th. Six equities 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. salesforce.com currently has an average rating of “Buy” and a consensus price target of $165.25.

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.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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