Investment House LLC increased its position in salesforce.com, inc. (NYSE:CRM) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,205 shares of the CRM provider’s stock after buying an additional 100 shares during the quarter. Investment House LLC’s holdings in salesforce.com were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Avondale Wealth Management increased its stake in shares of salesforce.com by 100.0% during the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of salesforce.com during the fourth quarter valued at approximately $28,000. CX Institutional increased its stake in shares of salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after buying an additional 145 shares during the period. Arcadia Investment Management Corp MI increased its stake in shares of salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after buying an additional 68 shares during the period. Finally, Brand Asset Management Group Inc. purchased a new position in shares of salesforce.com during the first quarter valued at approximately $30,000. Institutional investors own 83.13% of the company’s stock.
Several equities analysts have recently issued reports on CRM shares. Stephens started coverage on salesforce.com in a research note on Wednesday, January 16th. They set an “overweight” rating and a $183.00 target price on the stock. TheStreet raised salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Bank of America reissued a “buy” rating and set a $200.00 target price (up from $181.00) on shares of salesforce.com in a research note on Wednesday, February 27th. Goldman Sachs Group reissued a “buy” rating and set a $178.00 target price on shares of salesforce.com in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted their target price on salesforce.com to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $177.82.
salesforce.com (NYSE:CRM) last released its earnings results on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, equities analysts anticipate that salesforce.com, inc. will post 1.18 earnings per share for the current year.
In other news, insider Parker Harris sold 6,330 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $156.39, for a total transaction of $989,948.70. Following the transaction, the insider now directly owns 33,882 shares of the company’s stock, valued at $5,298,805.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig Conway sold 200 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $153.00, for a total value of $30,600.00. Following the transaction, the director now directly owns 9,110 shares in the company, valued at $1,393,830. The disclosure for this sale can be found here. Over the last three months, insiders sold 439,500 shares of company stock worth $70,392,703. Insiders own 5.50% of the company’s stock.
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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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