Bridge Creek Capital Management LLC lowered its stake in shares of salesforce.com, inc. (NYSE:CRM) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,876 shares of the CRM provider’s stock after selling 220 shares during the quarter. salesforce.com accounts for about 2.0% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 14th largest position. Bridge Creek Capital Management LLC’s holdings in salesforce.com were worth $4,241,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Demars Financial Group LLC purchased a new position in salesforce.com in the second quarter valued at $30,000. Capstone Financial Group Inc. purchased a new position in shares of salesforce.com during the third quarter worth about $50,000. Investors Research Corp grew its holdings in shares of salesforce.com by 58.5% during the second quarter. Investors Research Corp now owns 271 shares of the CRM provider’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. JJJ Advisors Inc. boosted its stake in shares of salesforce.com by 46.5% during the second quarter. JJJ Advisors Inc. now owns 293 shares of the CRM provider’s stock worth $55,000 after buying an additional 93 shares during the period. Finally, Estate Counselors LLC acquired a new stake in shares of salesforce.com during the second quarter worth about $57,000. 81.40% of the stock is currently owned by institutional investors and hedge funds.
CRM stock traded up $0.83 during midday trading on Friday, hitting $258.55. The stock had a trading volume of 3,098,043 shares, compared to its average volume of 7,123,797. The firm has a market cap of $235.28 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 7.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.15 and a quick ratio of 1.15. salesforce.com, inc. has a 12-month low of $115.29 and a 12-month high of $284.50. The company’s 50-day moving average price is $254.10 and its 200 day moving average price is $197.75.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 25th. The CRM provider reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.77. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.90 billion. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. salesforce.com’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. As a group, sell-side analysts anticipate that salesforce.com, inc. will post 1.91 EPS for the current year.
In other news, CAO Joe Allanson sold 238 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $242.78, for a total value of $57,781.64. Following the completion of the sale, the chief accounting officer now owns 31,439 shares of the company’s stock, valued at approximately $7,632,760.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $275.29, for a total transaction of $1,376,450.00. Following the sale, the insider now directly owns 66,955 shares of the company’s stock, valued at approximately $18,432,041.95. The disclosure for this sale can be found here. Insiders sold a total of 731,193 shares of company stock worth $167,388,606 in the last quarter. 4.40% of the stock is currently owned by company insiders.
CRM has been the subject of several recent research reports. Oppenheimer increased their target price on shares of salesforce.com from $205.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Stifel Nicolaus increased their target price on shares of salesforce.com from $220.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Canaccord Genuity increased their target price on shares of salesforce.com from $200.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Wedbush increased their target price on shares of salesforce.com from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Finally, Loop Capital increased their target price on shares of salesforce.com from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $246.31.
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.
Featured Story: What is the return on assets (ROA) ratio?
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.