salesforce.com, inc. (NYSE:CRM) Position Boosted by Circle Wealth Management LLC

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Circle Wealth Management LLC boosted its stake in salesforce.com, inc. (NYSE:CRM) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,806 shares of the CRM provider’s stock after purchasing an additional 246 shares during the quarter. Circle Wealth Management LLC’s holdings in salesforce.com were worth $268,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its stake in salesforce.com by 36,379.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock worth $1,919,183,000 after acquiring an additional 12,614,007 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of salesforce.com by 13.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after purchasing an additional 4,046,077 shares in the last quarter. State Street Corp boosted its stake in shares of salesforce.com by 12.1% during the third quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock valued at $5,145,974,000 after purchasing an additional 3,749,613 shares in the last quarter. Viking Global Investors LP bought a new position in shares of salesforce.com during the second quarter valued at approximately $443,415,000. Finally, BlackRock Inc. boosted its stake in shares of salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after purchasing an additional 2,499,996 shares in the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.

In other news, insider Parker Harris sold 620 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $143.68, for a total value of $89,081.60. Following the completion of the transaction, the insider now owns 32,034 shares in the company, valued at approximately $4,602,645.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 1,608 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $162.57, for a total transaction of $261,412.56. Following the sale, the insider now directly owns 34,719 shares in the company, valued at $5,644,267.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,065 shares of company stock valued at $46,033,032. 5.50% of the stock is owned by insiders.

A number of equities analysts have recently issued reports on CRM shares. Zacks Investment Research downgraded shares of salesforce.com from a “buy” rating to a “hold” rating and set a $166.00 price objective on the stock. in a research note on Thursday, October 31st. ValuEngine downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their price target on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and issued a $195.00 price target on shares of salesforce.com in a report on Wednesday. Finally, Barclays set a $189.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. salesforce.com has a consensus rating of “Buy” and an average price target of $189.22.

Shares of salesforce.com stock traded down $5.14 during trading hours on Wednesday, hitting $156.43. The company had a trading volume of 17,802,656 shares, compared to its average volume of 5,749,019. The company’s 50-day moving average is $157.11 and its two-hundred day moving average is $153.41. salesforce.com, inc. has a twelve month low of $120.16 and a twelve month high of $167.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $142.85 billion, a P/E ratio of 107.88, a price-to-earnings-growth ratio of 7.00 and a beta of 1.24.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. salesforce.com’s revenue for the quarter was up 33.0% on a year-over-year basis. Sell-side analysts expect that salesforce.com, inc. will post 1.24 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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