Brighton Jones LLC lifted its position in shares of salesforce.com, inc. (NYSE:CRM) by 45.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,286 shares of the CRM provider’s stock after purchasing an additional 2,266 shares during the quarter. Brighton Jones LLC’s holdings in salesforce.com were worth $994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its stake in salesforce.com by 64.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock valued at $121,000 after acquiring an additional 409 shares during the period. TLP Group LLC grew its stake in salesforce.com by 353.9% in the 1st quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock valued at $128,000 after acquiring an additional 860 shares during the period. Private Capital Group LLC grew its stake in salesforce.com by 91.9% in the 1st quarter. Private Capital Group LLC now owns 1,134 shares of the CRM provider’s stock valued at $132,000 after acquiring an additional 543 shares during the period. CWM LLC grew its stake in salesforce.com by 95.8% in the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock valued at $180,000 after acquiring an additional 645 shares during the period. Finally, Signaturefd LLC acquired a new stake in salesforce.com in the 1st quarter valued at $194,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

NYSE CRM opened at $145.82 on Friday. salesforce.com, inc. has a 52 week low of $87.26 and a 52 week high of $149.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $106.00 billion, a PE ratio of 158.73, a P/E/G ratio of 5.72 and a beta of 1.11.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.46 by $0.28. salesforce.com had a return on equity of 7.25% and a net margin of 4.33%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. sell-side analysts expect that salesforce.com, inc. will post 1.01 earnings per share for the current fiscal year.

CRM has been the topic of a number of research reports. Goldman Sachs Group restated a “buy” rating and issued a $140.00 price objective on shares of salesforce.com in a report on Tuesday, May 29th. Credit Suisse Group raised their price objective on salesforce.com from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Barclays raised their price objective on salesforce.com from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, May 30th. JMP Securities raised their price objective on salesforce.com from $126.00 to $140.00 and gave the company a “market outperform” rating in a report on Tuesday, May 8th. Finally, Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $135.23.

In other salesforce.com news, Director Susan Wojcicki acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was purchased at an average cost of $132.00 per share, with a total value of $792,000.00. Following the transaction, the director now owns 64,926 shares of the company’s stock, valued at $8,570,232. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Victor Roos sold 176 shares of the firm’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $145.80, for a total value of $25,660.80. Following the sale, the director now directly owns 13,217 shares of the company’s stock, valued at $1,927,038.60. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 18,000 shares of company stock valued at $2,497,980 and have sold 601,048 shares valued at $81,897,855. 6.00% of the stock is currently owned by company insiders.

About salesforce.com

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: Outstanding Shares and The Effect on Share Price

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

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