salesforce.com, inc. (CRM) Position Lifted by Optimum Investment Advisors

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Optimum Investment Advisors boosted its holdings in salesforce.com, inc. (NYSE:CRM) by 99.1% during the first quarter, Holdings Channel reports. The fund owned 3,395 shares of the CRM provider’s stock after buying an additional 1,690 shares during the period. Optimum Investment Advisors’ holdings in salesforce.com were worth $538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Oregon Public Employees Retirement Fund lifted its stake in salesforce.com by 29,364.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after purchasing an additional 21,642,889 shares in the last quarter. Norges Bank acquired a new position in salesforce.com during the fourth quarter worth $938,778,000. Lunia Capital LP acquired a new position in salesforce.com during the fourth quarter worth $5,811,000. BlackRock Inc. lifted its stake in salesforce.com by 9.2% during the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after purchasing an additional 4,321,630 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in salesforce.com by 18.3% during the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after purchasing an additional 3,041,293 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

CRM has been the topic of a number of research reports. TheStreet upgraded salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Nomura set a $184.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Societe Generale set a $186.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Tuesday, March 5th. SunTrust Banks upped their price target on salesforce.com to $183.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Credit Suisse Group restated a “buy” rating and set a $175.00 price target on shares of salesforce.com in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. salesforce.com currently has a consensus rating of “Buy” and a consensus price target of $177.82.

NYSE:CRM opened at $158.07 on Thursday. The firm has a market capitalization of $118.04 billion, a P/E ratio of 109.01, a price-to-earnings-growth ratio of 5.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56.

salesforce.com (NYSE:CRM) last posted its earnings results on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same quarter in the prior year, the company posted $0.35 earnings per share. Analysts predict that salesforce.com, inc. will post 1.18 EPS for the current fiscal year.

In related news, Director Craig Conway sold 200 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $153.00, for a total value of $30,600.00. Following the transaction, the director now owns 9,110 shares of the company’s stock, valued at $1,393,830. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark J. Hawkins sold 846 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.01, for a total value of $140,444.46. Following the completion of the transaction, the insider now directly owns 20,316 shares in the company, valued at approximately $3,372,659.16. The disclosure for this sale can be found here. Insiders sold 439,500 shares of company stock worth $70,392,703 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

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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.

Read More: What is intrinsic value?

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

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