Los Angeles Capital Management & Equity Research Inc. Increases Holdings in Salesforce.com Inc (CRM)
Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Salesforce.com Inc (NYSE:CRM) by 557.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 709,155 shares of the CRM provider’s stock after acquiring an additional 601,242 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.10% of Salesforce.com worth $66,249,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Salesforce.com by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after acquiring an additional 2,268,623 shares during the period. Jennison Associates LLC lifted its stake in Salesforce.com by 17.0% during the 2nd quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after acquiring an additional 2,740,329 shares during the period. Janus Henderson Group PLC lifted its stake in Salesforce.com by 911.7% during the 2nd quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after acquiring an additional 11,498,509 shares during the period. TIAA CREF Investment Management LLC lifted its stake in Salesforce.com by 6.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock valued at $809,259,000 after acquiring an additional 592,409 shares during the period. Finally, Winslow Capital Management LLC lifted its stake in Salesforce.com by 12.0% during the 2nd quarter. Winslow Capital Management LLC now owns 6,266,919 shares of the CRM provider’s stock valued at $542,715,000 after acquiring an additional 670,197 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.
CRM has been the subject of several research reports. Stephens restated an “overweight” rating and set a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Vetr lowered shares of Salesforce.com from a “hold” rating to a “strong sell” rating and set a $80.76 target price for the company. in a report on Wednesday, October 11th. Moffett Nathanson started coverage on shares of Salesforce.com in a report on Wednesday, September 6th. They set a “buy” rating and a $125.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $84.00 target price on shares of Salesforce.com in a report on Sunday, October 29th. Finally, BNP Paribas reaffirmed a “buy” rating and set a $95.00 target price on shares of Salesforce.com in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-six have assigned a buy rating to the stock. Salesforce.com has an average rating of “Buy” and an average target price of $107.37.
In related news, CFO Mark J. Hawkins sold 490 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total transaction of $45,824.80. Following the transaction, the chief financial officer now directly owns 14,886 shares of the company’s stock, valued at approximately $1,392,138.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Keith Block sold 7,641 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.85, for a total value of $732,389.85. Following the transaction, the insider now directly owns 14,718 shares in the company, valued at $1,410,720.30. The disclosure for this sale can be found here. Insiders sold a total of 533,944 shares of company stock worth $51,820,364 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/13/los-angeles-capital-management-equity-research-inc-increases-holdings-in-salesforce-com-inc-crm.html.
Salesforce.com Inc (CRM) traded up $1.64 on Monday, reaching $105.24. The company’s stock had a trading volume of 4,675,700 shares, compared to its average volume of 4,364,057. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08. The stock has a market cap of $75,950.00, a PE ratio of 526.20, a price-to-earnings-growth ratio of 10.44 and a beta of 1.23. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $105.38.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.24. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The company’s revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. equities research analysts predict that Salesforce.com Inc will post 0.4 EPS for the current year.
Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce.com Inc (NYSE:CRM).
Receive News & Stock Ratings for Salesforce.com Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc and related stocks with our FREE daily email newsletter.