835 Shares in salesforce.com, inc. (NYSE:CRM) Acquired by Private Advisory Group LLC

Private Advisory Group LLC purchased a new position in shares of salesforce.com, inc. (NYSE:CRM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 835 shares of the CRM provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Public Employees Retirement Association of Colorado boosted its position in shares of salesforce.com by 9.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 767,916 shares of the CRM provider’s stock worth $110,565,000 after buying an additional 68,096 shares during the period. Magnetar Financial LLC boosted its position in shares of salesforce.com by 40.6% during the first quarter. Magnetar Financial LLC now owns 5,151 shares of the CRM provider’s stock worth $742,000 after buying an additional 1,487 shares during the period. Cohen & Steers Inc. boosted its position in shares of salesforce.com by 655.4% during the first quarter. Cohen & Steers Inc. now owns 2,712 shares of the CRM provider’s stock worth $390,000 after buying an additional 2,353 shares during the period. Chilton Capital Management LLC boosted its position in shares of salesforce.com by 2.1% during the first quarter. Chilton Capital Management LLC now owns 88,711 shares of the CRM provider’s stock worth $12,773,000 after buying an additional 1,809 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in shares of salesforce.com during the first quarter worth $245,000. Institutional investors and hedge funds own 81.40% of the company’s stock.

In other news, insider Parker Harris sold 5,000 shares of salesforce.com stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $191.68, for a total transaction of $958,400.00. Following the completion of the sale, the insider now directly owns 66,132 shares in the company, valued at approximately $12,676,181.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Joe Allanson sold 238 shares of salesforce.com stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $242.78, for a total transaction of $57,781.64. Following the sale, the chief accounting officer now owns 31,439 shares of the company’s stock, valued at $7,632,760.42. The disclosure for this sale can be found here. Insiders sold a total of 738,130 shares of company stock worth $167,103,674 in the last ninety days. 4.40% of the stock is owned by corporate insiders.

NYSE CRM opened at $266.83 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.07. salesforce.com, inc. has a 52-week low of $115.29 and a 52-week high of $284.50. The business’s 50-day moving average price is $252.31 and its 200 day moving average price is $196.06. The firm has a market cap of $242.82 billion, a P/E ratio of 104.23, a P/E/G ratio of 7.33 and a beta of 1.27.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 25th. The CRM provider reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.77. salesforce.com had a return on equity of 3.99% and a net margin of 12.21%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, analysts anticipate that salesforce.com, inc. will post 1.91 earnings per share for the current year.

Several brokerages have recently issued reports on CRM. Barclays increased their price objective on salesforce.com from $190.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Oppenheimer increased their price objective on salesforce.com from $205.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on salesforce.com from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Canaccord Genuity increased their price objective on salesforce.com from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Finally, Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “strong-buy” rating and set a $312.00 price target on the stock in a research note on Monday, August 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the stock. salesforce.com presently has an average rating of “Buy” and a consensus price target of $243.60.

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.

Further Reading: Sell-Side Analysts

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

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