Wealth Enhancement Advisory Services LLC Takes Position in salesforce.com, inc. (NYSE:CRM)

Wealth Enhancement Advisory Services LLC purchased a new stake in salesforce.com, inc. (NYSE:CRM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 12,683 shares of the CRM provider’s stock, valued at approximately $1,981,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Avondale Wealth Management lifted its position 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 purchasing an additional 80 shares during the last quarter. Citizens Financial Group Inc RI bought a new stake in salesforce.com in the 1st quarter valued at about $27,000. Arcadia Investment Management Corp MI lifted its position 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 purchasing an additional 68 shares during the last quarter. Personal Wealth Partners bought a new stake in salesforce.com in the 2nd quarter valued at about $28,000. Finally, Brand Asset Management Group Inc. bought a new stake in salesforce.com in the 1st quarter valued at about $30,000. 82.05% of the stock is owned by institutional investors and hedge funds.

In related news, CAO Joe Allanson sold 168 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $153.88, for a total transaction of $25,851.84. Following the transaction, the chief accounting officer now directly owns 30,641 shares of the company’s stock, valued at $4,715,037.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $158.94, for a total transaction of $794,700.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,671 shares of company stock worth $47,578,569. 5.50% of the stock is currently owned by insiders.

A number of analysts have commented on CRM shares. UBS Group set a $190.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. restated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a research report on Monday, June 3rd. Jefferies Financial Group restated a “buy” rating and set a $165.00 price target on shares of salesforce.com in a research report on Friday, August 9th. They noted that the move was a valuation call. Wedbush restated an “outperform” rating and set a $192.00 price target on shares of salesforce.com in a research report on Friday, May 31st. Finally, Nomura restated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $180.00.

Shares of salesforce.com stock traded up $2.55 during trading on Thursday, hitting $142.27. The stock had a trading volume of 442,462 shares, compared to its average volume of 7,468,685. The stock’s 50 day simple moving average is $152.66. The stock has a market cap of $109.20 billion, a P/E ratio of 98.20, a PEG ratio of 5.17 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, sell-side analysts predict that salesforce.com, inc. will post 1.25 earnings per share for the current year.

salesforce.com Company 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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