Bp Plc boosted its stake in salesforce.com, inc. (NYSE:CRM) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,000 shares of the CRM provider’s stock after acquiring an additional 18,000 shares during the quarter. salesforce.com comprises about 0.7% of Bp Plc’s holdings, making the stock its 28th largest holding. Bp Plc’s holdings in salesforce.com were worth $24,332,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Botty Investors LLC purchased a new position in shares of salesforce.com during the 3rd quarter valued at approximately $123,000. Resources Investment Advisors Inc. boosted its stake in shares of salesforce.com by 328.2% during 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 stake in shares of salesforce.com by 95.8% during 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. purchased a new position in shares of salesforce.com during the 3rd quarter valued at approximately $193,000. Finally, Nikulski Financial Inc. purchased a new position in shares of salesforce.com during the 3rd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.
In other salesforce.com news, CEO Keith Block sold 9,604 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $145.49, for a total value of $1,397,285.96. Following the sale, the chief executive officer now directly owns 30,251 shares of the company’s stock, valued at $4,401,217.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Joe Allanson sold 272 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $151.53, for a total value of $41,216.16. Following the completion of the sale, the chief accounting officer now directly owns 30,310 shares in the company, valued at $4,592,874.30. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 18,000 shares of company stock worth $2,703,900 and sold 501,298 shares worth $75,593,047. 6.00% of the stock is owned by company insiders.
salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Sell-side analysts anticipate that salesforce.com, inc. will post 1.22 EPS for the current fiscal year.
Several equities analysts have recently commented on CRM shares. Bank of America increased their target price on salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a research note on Tuesday, August 21st. Jefferies Financial Group increased their target price on salesforce.com from $172.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Piper Jaffray Companies increased their target price on salesforce.com from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, September 28th. Rosenblatt Securities reiterated a “buy” rating and set a $178.00 target price on shares of salesforce.com in a research note on Tuesday, October 2nd. Finally, Argus increased their target price on salesforce.com from $141.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Six research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $165.25.
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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