Community Capital Management Inc. Invests $375,000 in salesforce.com, inc. (NYSE:CRM)

Share on StockTwits

Community Capital Management Inc. acquired a new position in salesforce.com, inc. (NYSE:CRM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the CRM provider’s stock, valued at approximately $375,000.

A number of other hedge funds have also recently modified their holdings of the stock. AlphaCore Capital LLC acquired a new stake in salesforce.com in the first quarter worth about $28,000. Delta Asset Management LLC TN increased its position in salesforce.com by 166.7% in the first quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 125 shares during the period. Red Door Wealth Management LLC acquired a new position in shares of salesforce.com during the 1st quarter worth about $29,000. Accurate Investment Solutions Inc. grew its position in shares of salesforce.com by 632.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock worth $30,000 after buying an additional 177 shares during the period. Finally, Weaver Consulting Group grew its position in shares of salesforce.com by 81.2% during the 1st quarter. Weaver Consulting Group now owns 250 shares of the CRM provider’s stock worth $36,000 after buying an additional 112 shares during the period. 81.26% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Bret Steven Taylor sold 4,706 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $163.06, for a total transaction of $767,360.36. Following the completion of the transaction, the chief operating officer now directly owns 1,080,627 shares in the company, valued at $176,207,038.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $199.74, for a total value of $2,996,100.00. Following the transaction, the chief executive officer now owns 30,038,800 shares of the company’s stock, valued at $5,999,949,912. The disclosure for this sale can be found here. Insiders sold 672,077 shares of company stock valued at $123,680,637 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

Several research firms have recently issued reports on CRM. Bank of America restated a “buy” rating and set a $210.00 target price on shares of salesforce.com in a research report on Thursday, May 14th. Royal Bank of Canada decreased their price objective on salesforce.com from $230.00 to $210.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Jefferies Financial Group boosted their price objective on salesforce.com from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. They noted that the move was a valuation call. Monness Crespi & Hardt boosted their target price on salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Cowen cut their target price on salesforce.com from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $200.21.

Shares of CRM stock traded up $3.15 on Friday, hitting $194.85. 3,734,611 shares of the company’s stock were exchanged, compared to its average volume of 4,551,268. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $172.72 billion, a P/E ratio of -1,082.50, a price-to-earnings-growth ratio of 9.46 and a beta of 1.08. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $202.82. The company has a 50 day moving average of $188.62 and a 200 day moving average of $173.36.

salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.85 billion. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. Sell-side analysts predict that salesforce.com, inc. will post 1.13 EPS for the current fiscal year.

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.

See Also: What are benefits of a growth and income fund?

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.