Gladstone Institutional Advisory LLC Boosts Stock Position in salesforce.com, inc. (NYSE:CRM)

Gladstone Institutional Advisory LLC increased its stake in shares of salesforce.com, inc. (NYSE:CRM) by 33.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,947 shares of the CRM provider’s stock after purchasing an additional 988 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in salesforce.com were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Chemung Canal Trust Co. lifted its position in salesforce.com by 1.2% during the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock worth $6,688,000 after acquiring an additional 505 shares in the last quarter. Hills Bank & Trust Co. lifted its position in salesforce.com by 5.3% during the 2nd quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock worth $1,438,000 after acquiring an additional 473 shares in the last quarter. Chicago Capital LLC lifted its position in salesforce.com by 3.1% during the 2nd quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock worth $31,825,000 after acquiring an additional 6,237 shares in the last quarter. Ibex Wealth Advisors acquired a new position in salesforce.com during the 2nd quarter worth approximately $63,000. Finally, Retirement Systems of Alabama lifted its position in salesforce.com by 1.0% during the 2nd quarter. Retirement Systems of Alabama now owns 612,105 shares of the CRM provider’s stock worth $92,875,000 after acquiring an additional 5,888 shares in the last quarter. Hedge funds and other institutional investors own 73.65% of the company’s stock.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. set a $180.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. TheStreet lowered salesforce.com from a “b” rating to a “c” rating in a research report on Thursday, August 22nd. Credit Suisse Group set a $175.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Canaccord Genuity boosted their price target on salesforce.com from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price target on salesforce.com from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and an average target price of $183.82.

CRM traded down $0.67 during trading on Wednesday, reaching $152.15. 76,931 shares of the company were exchanged, compared to its average volume of 6,787,203. The stock has a market cap of $134.16 billion, a P/E ratio of 104.89, a PEG ratio of 5.64 and a beta of 1.24. The firm has a 50 day moving average of $149.38 and a 200 day moving average of $155.41. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com, inc. has a 52 week low of $113.60 and a 52 week high of $167.56.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. As a group, analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

In related news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $158.94, for a total transaction of $794,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joe Allanson sold 168 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $153.88, for a total value of $25,851.84. Following the transaction, the chief accounting officer now owns 30,641 shares of the company’s stock, valued at $4,715,037.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,390 shares of company stock valued at $46,062,200. 5.50% of the stock is owned by company insiders.

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.

See Also: Do equity income investments outperform growth and income investments?

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.