Sage Rhino Capital LLC Purchases 421 Shares of salesforce.com, inc. (NYSE:CRM)

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Sage Rhino Capital LLC lifted its position in salesforce.com, inc. (NYSE:CRM) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,728 shares of the CRM provider’s stock after acquiring an additional 421 shares during the quarter. Sage Rhino Capital LLC’s holdings in salesforce.com were worth $886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AXA increased its holdings in shares of salesforce.com by 13.2% during the first quarter. AXA now owns 642,117 shares of the CRM provider’s stock valued at $92,452,000 after acquiring an additional 74,972 shares in the last quarter. Balentine LLC acquired a new position in salesforce.com in the first quarter valued at about $147,000. Wisconsin Capital Management LLC boosted its position in salesforce.com by 12.5% in the first quarter. Wisconsin Capital Management LLC now owns 11,250 shares of the CRM provider’s stock valued at $1,620,000 after buying an additional 1,250 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in salesforce.com by 18.8% in the first quarter. Capital Asset Advisory Services LLC now owns 2,861 shares of the CRM provider’s stock valued at $485,000 after buying an additional 452 shares in the last quarter. Finally, Private Asset Management Inc. boosted its position in salesforce.com by 7.4% in the second quarter. Private Asset Management Inc. now owns 21,005 shares of the CRM provider’s stock valued at $3,935,000 after buying an additional 1,443 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

A number of equities analysts have commented on CRM shares. Mizuho boosted their price target on shares of salesforce.com from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Cowen reduced their price target on shares of salesforce.com from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Royal Bank of Canada reduced their price target on shares of salesforce.com from $230.00 to $210.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Goldman Sachs Group upped their target price on shares of salesforce.com from $204.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, OTR Global lowered shares of salesforce.com to a “positive” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. salesforce.com currently has an average rating of “Buy” and an average target price of $200.21.

In related news, Director Alan G. Hassenfeld sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $190.41, for a total value of $1,904,100.00. Following the completion of the transaction, the director now owns 88,249 shares of the company’s stock, valued at $16,803,492.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Joe Allanson sold 218 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $191.71, for a total transaction of $41,792.78. Following the completion of the transaction, the chief accounting officer now directly owns 31,559 shares of the company’s stock, valued at approximately $6,050,175.89. The disclosure for this sale can be found here. Insiders have sold 672,077 shares of company stock valued at $123,680,637 in the last three months. 4.40% of the stock is owned by insiders.

Shares of CRM stock traded up $3.15 during trading hours on Friday, hitting $194.85. 3,734,611 shares of the company were exchanged, compared to its average volume of 4,551,268. The business has a 50 day moving average of $188.62 and a two-hundred day moving average of $173.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $202.82. The company has a market capitalization of $172.72 billion, a PE ratio of -1,082.50, a PEG ratio of 9.46 and a beta of 1.08.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The firm’s revenue was up 30.2% compared to the same quarter last year. On average, research analysts forecast that salesforce.com, inc. will post 1.13 EPS for the current year.

salesforce.com Company 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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