HCR Wealth Advisors Has $503,000 Stock Position in salesforce.com, inc. (NYSE:CRM)

HCR Wealth Advisors increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,622 shares of the CRM provider’s stock after buying an additional 65 shares during the quarter. HCR Wealth Advisors’ holdings in salesforce.com were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRM. Guggenheim Capital LLC raised its stake in salesforce.com by 6.2% during the 4th quarter. Guggenheim Capital LLC now owns 210,224 shares of the CRM provider’s stock worth $34,191,000 after buying an additional 12,350 shares during the period. Macquarie Group Ltd. raised its stake in shares of salesforce.com by 54.4% in the fourth quarter. Macquarie Group Ltd. now owns 240,223 shares of the CRM provider’s stock worth $39,070,000 after purchasing an additional 84,602 shares during the last quarter. Park National Corp OH raised its stake in shares of salesforce.com by 13.1% in the first quarter. Park National Corp OH now owns 1,739 shares of the CRM provider’s stock worth $250,000 after purchasing an additional 202 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of salesforce.com by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 164,830 shares of the CRM provider’s stock worth $23,731,000 after purchasing an additional 8,100 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in shares of salesforce.com by 24.6% in the first quarter. Gradient Investments LLC now owns 21,436 shares of the CRM provider’s stock worth $3,086,000 after purchasing an additional 4,233 shares during the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Marc Benioff sold 30,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $183.99, for a total value of $5,519,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Hawkins sold 36,581 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $185.88, for a total transaction of $6,799,676.28. Following the completion of the transaction, the chief financial officer now directly owns 14,144 shares of the company’s stock, valued at $2,629,086.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 672,077 shares of company stock valued at $123,680,637. Insiders own 4.40% of the company’s stock.

A number of brokerages recently weighed in on CRM. Credit Suisse Group reissued a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a report on Friday, May 29th. Mizuho boosted their price target on shares of salesforce.com from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Goldman Sachs Group boosted their price target on shares of salesforce.com from $204.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. OTR Global cut salesforce.com to a “positive” rating in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein restated a “neutral” rating and issued a $186.00 price objective on shares of salesforce.com in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $200.21.

Shares of NYSE:CRM traded up $3.15 during trading on Friday, reaching $194.85. 3,734,611 shares of the company traded hands, compared to its average volume of 4,551,268. The firm has a market capitalization of $172.72 billion, a price-to-earnings ratio of -1,082.50, a P/E/G ratio of 9.46 and a beta of 1.08. salesforce.com, inc. has a 52-week low of $115.29 and a 52-week high of $202.82. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $188.62 and its 200-day moving average is $173.36.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.85 billion. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, sell-side analysts predict that salesforce.com, inc. will post 1.13 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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