Private Advisor Group LLC Purchases 19,110 Shares of salesforce.com, inc. (CRM)

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Private Advisor Group LLC lifted its position in salesforce.com, inc. (NYSE:CRM) by 153.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,544 shares of the CRM provider’s stock after purchasing an additional 19,110 shares during the quarter. Private Advisor Group LLC’s holdings in salesforce.com were worth $5,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. One Capital Management LLC bought a new stake in salesforce.com in the third quarter valued at $212,000. Metropolitan Life Insurance Co. NY grew its position in salesforce.com by 4.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 142,379 shares of the CRM provider’s stock valued at $19,420,000 after acquiring an additional 5,892 shares during the period. First Heartland Consultants Inc. bought a new stake in salesforce.com in the second quarter valued at $284,000. Polaris Greystone Financial Group LLC bought a new stake in salesforce.com in the third quarter valued at $220,000. Finally, Korea Investment CORP grew its position in salesforce.com by 33.0% in the second quarter. Korea Investment CORP now owns 679,162 shares of the CRM provider’s stock valued at $92,638,000 after acquiring an additional 168,500 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

In other news, Director Susan Wojcicki bought 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average price of $146.38 per share, with a total value of $878,280.00. Following the transaction, the director now owns 83,426 shares in the company, valued at $12,211,897.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 5,711 shares of salesforce.com stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $134.97, for a total value of $770,813.67. Following the completion of the sale, the insider now directly owns 27,938 shares in the company, valued at approximately $3,770,791.86. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 18,000 shares of company stock worth $2,703,900 and have sold 501,298 shares worth $75,593,047. Company insiders own 6.00% of the company’s stock.

A number of analysts have weighed in on the company. Piper Jaffray Companies upped their price target on salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Bank of America upped their price target on salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a research report on Tuesday, August 21st. UBS Group upped their price target on salesforce.com from $153.00 to $168.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Argus upped their price target on salesforce.com from $141.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Finally, Stifel Nicolaus upped their price target on salesforce.com from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, July 17th. Six research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and a consensus price target of $165.25.

NYSE CRM opened at $133.95 on Wednesday. The stock has a market cap of $103.51 billion, a PE ratio of 297.67, a price-to-earnings-growth ratio of 4.50 and a beta of 1.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. salesforce.com, inc. has a one year low of $98.68 and a one year high of $161.19.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.24. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. salesforce.com’s revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. Research analysts anticipate that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

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

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