5,149 Shares in salesforce.com, inc. (NYSE:CRM) Acquired by Redmond Asset Management LLC

Redmond Asset Management LLC purchased a new position in salesforce.com, inc. (NYSE:CRM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,149 shares of the CRM provider’s stock, valued at approximately $781,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Avondale Wealth Management lifted its stake in salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares in the last quarter. Citizens Financial Group Inc RI purchased a new stake in salesforce.com in the 1st quarter valued at approximately $27,000. Arcadia Investment Management Corp MI lifted its stake in salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Avestar Capital LLC lifted its stake in salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Finally, Personal Wealth Partners purchased a new stake in salesforce.com in the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 82.05% of the company’s stock.

In related news, General Counsel Amy E. Weaver sold 501 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $153.54, for a total value of $76,923.54. Following the completion of the sale, the general counsel now directly owns 26,396 shares in the company, valued at approximately $4,052,841.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $155.34, for a total value of $776,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 309,671 shares of company stock valued at $47,578,569. 5.50% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on CRM shares. Barclays reaffirmed a “buy” rating and issued a $182.00 target price on shares of salesforce.com in a research note on Tuesday, June 11th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $181.00 target price on shares of salesforce.com in a research note on Monday, June 17th. Nomura reaffirmed a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $192.00 target price on shares of salesforce.com in a research note on Friday, May 31st. Finally, ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $180.00.

NYSE CRM traded up $3.11 during trading hours on Thursday, hitting $142.83. The company had a trading volume of 216,315 shares, compared to its average volume of 7,468,685. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The stock has a market cap of $109.20 billion, a P/E ratio of 98.50, a price-to-earnings-growth ratio of 5.17 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. The business’s 50 day moving average is $152.66.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. As a group, equities analysts predict that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.

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.

Read More: What is the quiet period?

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).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.