Virginia Retirement Systems ET AL grew its position in salesforce.com, inc. (NYSE:CRM) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,100 shares of the CRM provider’s stock after acquiring an additional 700 shares during the period. Virginia Retirement Systems ET AL’s holdings in salesforce.com were worth $5,741,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. One Capital Management LLC bought a new position in salesforce.com in the 3rd quarter worth approximately $212,000. Metropolitan Life Insurance Co. NY raised its position in salesforce.com by 4.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 142,379 shares of the CRM provider’s stock worth $19,420,000 after purchasing an additional 5,892 shares during the last quarter. First Heartland Consultants Inc. bought a new position in salesforce.com in the 2nd quarter worth approximately $284,000. Polaris Greystone Financial Group LLC bought a new position in salesforce.com in the 3rd quarter worth approximately $220,000. Finally, Korea Investment CORP raised its position in salesforce.com by 33.0% in the 2nd quarter. Korea Investment CORP now owns 679,162 shares of the CRM provider’s stock worth $92,638,000 after purchasing an additional 168,500 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.
Several research analysts recently weighed in on CRM shares. SunTrust Banks boosted their price objective on shares of salesforce.com to $170.00 and gave the stock a “positive” rating in a research report on Thursday, August 30th. TheStreet cut shares of salesforce.com from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. Pivotal Research boosted their price objective on shares of salesforce.com from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Tuesday, September 4th. Morgan Stanley boosted their price objective on shares of salesforce.com from $153.00 to $178.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of salesforce.com to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. Six research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $166.41.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The firm’s revenue was up 27.3% on a year-over-year basis. Equities analysts expect that salesforce.com, inc. will post 1.22 EPS for the current fiscal year.
In related news, General Counsel Amy E. Weaver sold 494 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $147.23, for a total value of $72,731.62. Following the completion of the transaction, the general counsel now directly owns 20,764 shares of the company’s stock, valued at approximately $3,057,083.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $145.58, for a total transaction of $1,455,800.00. The disclosure for this sale can be found here. In the last three months, insiders bought 18,000 shares of company stock valued at $2,703,900 and sold 503,678 shares valued at $75,870,740. 6.00% of the stock is owned by insiders.
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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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