Los Angeles Capital Management & Equity Research Inc. Buys 21,245 Shares of salesforce.com, inc. (CRM)

Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of salesforce.com, inc. (NYSE:CRM) by 3.0% during the third quarter, HoldingsChannel reports. The firm owned 734,895 shares of the CRM provider’s stock after buying an additional 21,245 shares during the period. salesforce.com accounts for 0.6% of Los Angeles Capital Management & Equity Research Inc.’s portfolio, making the stock its 25th largest position. Los Angeles Capital Management & Equity Research Inc.’s holdings in salesforce.com were worth $116,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Botty Investors LLC acquired a new position in shares of salesforce.com during the third quarter worth about $123,000. Resources Investment Advisors Inc. lifted its stake in shares of salesforce.com by 328.2% during the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after purchasing an additional 965 shares in the last quarter. United Capital Management of KS Inc. acquired a new position in shares of salesforce.com during the third quarter worth about $193,000. Sky Investment Group LLC acquired a new position in shares of salesforce.com during the third quarter worth about $204,000. Finally, Empirical Finance LLC acquired a new position in shares of salesforce.com during the third quarter worth about $204,000. Institutional investors own 83.01% of the company’s stock.

A number of brokerages have commented on CRM. TheStreet cut salesforce.com from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Nomura began coverage on salesforce.com in a research note on Monday, October 29th. They issued a “buy” rating and a $181.00 price target on the stock. BMO Capital Markets boosted their price target on salesforce.com from $165.00 to $174.00 and gave the stock a “market perform” rating in a research note on Monday, October 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $178.00 price target on shares of salesforce.com in a research note on Tuesday, October 2nd. Finally, Robert W. Baird boosted their price target on salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Six equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $165.25.

In related news, CAO Joe Allanson sold 272 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $151.53, for a total value of $41,216.16. Following the completion of the sale, the chief accounting officer now directly owns 30,310 shares of the company’s stock, valued at $4,592,874.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Victor Roos sold 176 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $149.51, for a total value of $26,313.76. Following the completion of the sale, the director now directly owns 12,337 shares of the company’s stock, valued at $1,844,504.87. The disclosure for this sale can be found here. Over the last three months, insiders purchased 18,000 shares of company stock valued at $2,703,900 and sold 496,518 shares valued at $74,874,803. 6.00% of the stock is owned by insiders.

Shares of salesforce.com stock opened at $141.79 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $101.36 billion, a P/E ratio of 315.09, a PEG ratio of 4.40 and a beta of 1.38. salesforce.com, inc. has a fifty-two week low of $98.68 and a fifty-two week high of $161.19.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.24. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. salesforce.com’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. Equities research analysts anticipate that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

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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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