Tiaa Fsb Grows Stake in salesforce.com, inc. (NYSE:CRM)

Tiaa Fsb boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 19.0% in the 3rd quarter, Holdings Channel reports. The fund owned 116,510 shares of the CRM provider’s stock after acquiring an additional 18,611 shares during the quarter. Tiaa Fsb’s holdings in salesforce.com were worth $31,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Joseph P. Lucia & Associates LLC lifted its holdings in shares of salesforce.com by 761.5% in the 3rd quarter. Joseph P. Lucia & Associates LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. Atlas Private Wealth Advisors lifted its holdings in salesforce.com by 115.3% during the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock worth $31,000 after buying an additional 68 shares in the last quarter. First PREMIER Bank acquired a new stake in salesforce.com during the 2nd quarter worth approximately $32,000. Rosenberg Matthew Hamilton purchased a new stake in shares of salesforce.com in the 3rd quarter valued at approximately $34,000. Finally, Duncker Streett & Co. Inc. grew its position in shares of salesforce.com by 35.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock valued at $40,000 after buying an additional 43 shares during the last quarter. 73.41% of the stock is owned by institutional investors.

In other news, insider Srinivas Tallapragada sold 20,000 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $307.11, for a total value of $6,142,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 68,008 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $301.74, for a total value of $20,520,733.92. The disclosure for this sale can be found here. Insiders have sold 737,826 shares of company stock valued at $205,921,946 over the last ninety days. Insiders own 4.10% of the company’s stock.

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of salesforce.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Morgan Stanley raised their target price on shares of salesforce.com from $345.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, November 1st. Barclays set a $348.00 price objective on shares of salesforce.com in a research note on Wednesday, November 17th. Jefferies Financial Group raised their target price on shares of salesforce.com from $325.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Atlantic Securities assumed coverage on shares of salesforce.com in a report on Monday. They set an “overweight” rating and a $360.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, salesforce.com currently has a consensus rating of “Buy” and an average target price of $320.59.

NYSE CRM traded down $2.25 on Thursday, reaching $289.17. The company’s stock had a trading volume of 5,090,392 shares, compared to its average volume of 6,067,207. salesforce.com, inc. has a twelve month low of $201.51 and a twelve month high of $311.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $283.10 billion, a PE ratio of 116.13, a PEG ratio of 8.37 and a beta of 1.07. The firm’s 50 day moving average is $288.13 and its two-hundred day moving average is $259.25.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the company earned $1.44 EPS. salesforce.com’s revenue was up 23.1% on a year-over-year basis. Equities research analysts anticipate that salesforce.com, inc. will post 2.15 EPS for the current fiscal year.

salesforce.com Company Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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