salesforce.com, inc. (NYSE:CRM) Stock Holdings Boosted by Sycomore Asset Management

Sycomore Asset Management boosted its position in salesforce.com, inc. (NYSE:CRM) by 291.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 82,294 shares of the CRM provider’s stock after purchasing an additional 61,294 shares during the period. salesforce.com comprises about 7.5% of Sycomore Asset Management’s portfolio, making the stock its 4th biggest holding. Sycomore Asset Management’s holdings in salesforce.com were worth $12,977,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Avondale Wealth Management increased its holdings in shares of salesforce.com by 100.0% in the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 80 shares during the period. Citizens Financial Group Inc RI bought a new position in shares of salesforce.com in the first quarter worth $27,000. Arcadia Investment Management Corp MI increased its holdings in shares of salesforce.com by 63.0% in 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. Avestar Capital LLC increased its holdings in shares of salesforce.com by 108.7% in the first quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Brand Asset Management Group Inc. bought a new position in shares of salesforce.com in the first quarter worth $30,000. Institutional investors and hedge funds own 81.64% of the company’s stock.

Shares of NYSE:CRM traded up $2.38 on Thursday, reaching $144.02. 442,979 shares of the company traded hands, compared to its average volume of 7,085,503. The business has a 50-day simple moving average of $154.31. salesforce.com, inc. has a 52 week low of $113.60 and a 52 week high of $167.56. The stock has a market capitalization of $110.83 billion, a PE ratio of 99.41, a P/E/G ratio of 5.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, analysts expect that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

Several research firms have recently weighed in on CRM. Barclays reaffirmed a “buy” rating and issued a $182.00 price target on shares of salesforce.com in a report on Tuesday, June 11th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a report on Monday, June 3rd. Wedbush reaffirmed an “outperform” rating and issued a $192.00 price target on shares of salesforce.com in a report on Friday, May 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $181.00 price target on shares of salesforce.com in a report on Monday, June 17th. Finally, ValuEngine cut shares of salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $180.11.

In other news, CAO Joe Allanson sold 327 shares of the stock in a transaction dated 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 in the company, valued at $4,701,547.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 6,330 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $156.39, for a total transaction of $989,948.70. Following the sale, the insider now owns 33,882 shares of the company’s stock, valued at $5,298,805.98. The disclosure for this sale can be found here. Insiders have sold 325,224 shares of company stock worth $50,259,682 over the last ninety days. Insiders own 5.50% of the company’s stock.

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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