salesforce.com, inc. (CRM) Stake Boosted by Riverhead Capital Management LLC

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Riverhead Capital Management LLC lifted its stake in salesforce.com, inc. (NYSE:CRM) by 19.8% during the 3rd quarter, Holdings Channel reports. The fund owned 20,595 shares of the CRM provider’s stock after purchasing an additional 3,407 shares during the quarter. Riverhead Capital Management LLC’s holdings in salesforce.com were worth $3,275,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CRM. Botty Investors LLC acquired a new position in shares of salesforce.com in the 3rd quarter worth approximately $123,000. Psagot Investment House Ltd. acquired a new position in shares of salesforce.com in the 3rd quarter worth approximately $134,000. Resources Investment Advisors Inc. lifted its holdings in shares of salesforce.com by 328.2% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after acquiring an additional 965 shares during the last quarter. United Capital Management of KS Inc. acquired a new position in shares of salesforce.com in the 3rd quarter worth approximately $193,000. Finally, Nikulski Financial Inc. acquired a new stake in salesforce.com during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Shares of CRM opened at $135.95 on Friday. salesforce.com, inc. has a twelve month low of $101.32 and a twelve month high of $161.19. The firm has a market capitalization of $108.68 billion, a PE ratio of 302.11, a PEG ratio of 4.32 and a beta of 1.42. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period last year, the business earned $0.39 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Equities analysts expect that salesforce.com, inc. will post 1.32 EPS for the current year.

A number of research firms have issued reports on CRM. Cowen increased their target price on shares of salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, September 27th. Credit Suisse Group set a $175.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Thursday, September 27th. Deutsche Bank increased their target price on shares of salesforce.com from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Piper Jaffray Companies increased their target price on shares of salesforce.com from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, September 28th. Finally, Robert W. Baird increased their target price on shares of salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Four investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $168.08.

In related news, insider Amy E. Weaver sold 5,325 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $160.11, for a total value of $852,585.75. Following the transaction, the insider now directly owns 26,798 shares of the company’s stock, valued at approximately $4,290,627.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith Block sold 2,160 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $133.60, for a total transaction of $288,576.00. Following the completion of the transaction, the chief executive officer now directly owns 24,865 shares in the company, valued at $3,321,964. The disclosure for this sale can be found here. Insiders sold a total of 487,322 shares of company stock worth $71,467,243 over the last ninety days. Insiders own 6.00% of the company’s stock.

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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.

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

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