2,865 Shares in salesforce.com, inc. (CRM) Purchased by Northeast Investment Management

Northeast Investment Management bought a new stake in salesforce.com, inc. (NYSE:CRM) during the third quarter, HoldingsChannel.com reports. The fund bought 2,865 shares of the CRM provider’s stock, valued at approximately $456,000.

Other hedge funds have also modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of salesforce.com in the 2nd quarter valued at about $1,341,000. First Mercantile Trust Co. raised its holdings in shares of salesforce.com by 62.2% in the 2nd quarter. First Mercantile Trust Co. now owns 2,362 shares of the CRM provider’s stock valued at $322,000 after acquiring an additional 906 shares in the last quarter. Kaizen Advisory LLC raised its holdings in shares of salesforce.com by 166.1% in the 2nd quarter. Kaizen Advisory LLC now owns 1,748 shares of the CRM provider’s stock valued at $238,000 after acquiring an additional 1,091 shares in the last quarter. BB&T Corp raised its holdings in shares of salesforce.com by 15.3% in the 2nd quarter. BB&T Corp now owns 26,981 shares of the CRM provider’s stock valued at $3,681,000 after acquiring an additional 3,579 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of salesforce.com in the 2nd quarter valued at about $211,000. 83.59% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $180.00 price target (up previously from $160.00) on shares of salesforce.com in a report on Monday. Piper Jaffray Companies lowered their price target on salesforce.com from $190.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, November 21st. Zacks Investment Research reaffirmed a “hold” rating on shares of salesforce.com in a report on Monday, November 12th. TheStreet lowered salesforce.com from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. Finally, Nomura initiated coverage on salesforce.com in a research report on Monday, October 29th. They set a “buy” rating and a $181.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $167.11.

In other news, General Counsel Amy E. Weaver sold 5,325 shares of salesforce.com stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $152.00, for a total value of $809,400.00. Following the sale, the general counsel now directly owns 26,798 shares in the company, valued at approximately $4,073,296. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $123.75, for a total value of $618,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 468,577 shares of company stock worth $69,693,426. 6.00% of the stock is owned by corporate insiders.

CRM opened at $122.03 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. salesforce.com, inc. has a 1 year low of $98.68 and a 1 year high of $161.19. The company has a market cap of $92.34 billion, a P/E ratio of 271.18, a P/E/G ratio of 4.01 and a beta of 1.38.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company earned $0.33 EPS. salesforce.com’s revenue for the quarter was up 27.3% compared to the same quarter last year. Research analysts forecast 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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