K.J. Harrison & Partners Inc bought a new stake in salesforce.com, inc. (NYSE:CRM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,000 shares of the CRM provider’s stock, valued at approximately $303,000.
Other institutional investors also recently modified their holdings of the company. Avondale Wealth Management boosted its position in salesforce.com by 100.0% in 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 in the last quarter. Citizens Financial Group Inc RI acquired a new position in shares of salesforce.com during the first quarter worth $27,000. Arcadia Investment Management Corp MI lifted its holdings 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 worth $28,000 after purchasing an additional 68 shares during the period. Personal Wealth Partners acquired a new position in shares of salesforce.com during the second quarter worth $28,000. Finally, Brand Asset Management Group Inc. acquired a new position in shares of salesforce.com during the first quarter worth $30,000. Hedge funds and other institutional investors own 82.03% of the company’s stock.
In other salesforce.com news, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $156.09, for a total value of $96,775.80. Following the completion of the sale, the insider now directly owns 30,281 shares of the company’s stock, valued at $4,726,561.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Joe Allanson sold 327 shares of salesforce.com stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $153.55, for a total transaction of $50,210.85. Following the completion of the sale, the chief accounting officer now directly owns 30,619 shares of the company’s stock, valued at $4,701,547.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 320,498 shares of company stock valued at $48,924,059. Insiders own 5.50% of the company’s stock.
CRM stock traded up $2.13 during midday trading on Tuesday, hitting $145.80. The stock had a trading volume of 1,827,331 shares, compared to its average volume of 7,759,705. The firm has a market cap of $111.66 billion, a P/E ratio of 100.55, a price-to-earnings-growth ratio of 5.25 and a beta of 1.27. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56. The business has a fifty day moving average price of $151.97 and a two-hundred day moving average price of $156.34.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. salesforce.com’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, equities analysts anticipate that salesforce.com, inc. will post 1.26 EPS for the current year.
CRM has been the topic of a number of recent research reports. Evercore ISI set a $190.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $184.00 price target (down previously from $192.00) on shares of salesforce.com in a report on Tuesday. Compass Point initiated coverage on shares of salesforce.com in a report on Tuesday, August 13th. They set a “buy” rating and a $190.00 price target on the stock. UBS Group set a $190.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of salesforce.com in a report on Thursday, June 6th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $179.79.
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.
Recommended Story: Strike Price
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.