Bedel Financial Consulting Inc. grew its stake in shares of salesforce.com, inc. (NYSE:CRM) by 131.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 625 shares of the CRM provider’s stock after acquiring an additional 355 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in salesforce.com were worth $93,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC bought a new position in shares of salesforce.com in the 2nd quarter worth approximately $26,000. Personal Wealth Partners bought a new position in shares of salesforce.com in the 2nd quarter worth approximately $28,000. Enterprise Trust & Investment Co lifted its stake in shares of salesforce.com by 234.4% in the 3rd quarter. Enterprise Trust & Investment Co now owns 204 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 143 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of salesforce.com in the 2nd quarter worth approximately $46,000. Finally, Citizens Financial Group Inc RI lifted its stake in shares of salesforce.com by 81.9% in the 2nd quarter. Citizens Financial Group Inc RI now owns 311 shares of the CRM provider’s stock worth $47,000 after purchasing an additional 140 shares during the period. 73.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Sanford Robertson sold 25,000 shares of salesforce.com stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the sale, the director now owns 124,017 shares in the company, valued at $19,305,726.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexandre Dayon sold 1,452 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $155.57, for a total transaction of $225,887.64. Following the completion of the transaction, the insider now directly owns 50,155 shares of the company’s stock, valued at $7,802,613.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 286,832 shares of company stock worth $43,530,831. Company insiders own 5.50% of the company’s stock.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. Research analysts expect that salesforce.com, inc. will post 1.25 earnings per share for the current year.
Several equities analysts have recently weighed in on CRM shares. Jefferies Financial Group reiterated a “buy” rating and issued a $171.00 price objective on shares of salesforce.com in a research note on Tuesday. Macquarie increased their price objective on shares of salesforce.com from $184.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. TheStreet cut shares of salesforce.com from a “b” rating to a “c” rating in a research note on Thursday, August 22nd. Royal Bank of Canada increased their price objective on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. Finally, Compass Point set a $193.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $184.31.
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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