Cleararc Capital Inc. boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 8.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,566 shares of the CRM provider’s stock after acquiring an additional 1,514 shares during the period. Cleararc Capital Inc.’s holdings in salesforce.com were worth $3,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newport Wealth Strategies Inc. grew its stake in shares of salesforce.com by 17.7% in the 2nd quarter. Newport Wealth Strategies Inc. now owns 2,349 shares of the CRM provider’s stock worth $320,000 after acquiring an additional 353 shares in the last quarter. Arthur M. Cohen & Associates LLC grew its stake in shares of salesforce.com by 4.5% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 8,591 shares of the CRM provider’s stock worth $1,366,000 after acquiring an additional 370 shares in the last quarter. Aspiriant LLC grew its stake in shares of salesforce.com by 11.8% in the 3rd quarter. Aspiriant LLC now owns 3,684 shares of the CRM provider’s stock worth $587,000 after acquiring an additional 389 shares in the last quarter. ProVise Management Group LLC grew its stake in shares of salesforce.com by 6.9% in the 2nd quarter. ProVise Management Group LLC now owns 6,160 shares of the CRM provider’s stock worth $840,000 after acquiring an additional 400 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of salesforce.com by 8.9% in the 3rd quarter. Lido Advisors LLC now owns 5,061 shares of the CRM provider’s stock worth $804,000 after acquiring an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

In other news, Director Susan Wojcicki purchased 6,000 shares of the stock in a transaction dated Monday, September 17th. The shares were purchased at an average cost of $157.57 per share, with a total value of $945,420.00. Following the completion of the acquisition, the director now owns 90,320 shares in the company, valued at approximately $14,231,722.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Amy E. Weaver sold 5,325 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $154.86, for a total transaction of $824,629.50. Following the completion of the sale, the insider now directly owns 26,798 shares in the company, valued at $4,149,938.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,322 shares of company stock worth $71,467,243. Insiders own 6.00% of the company’s stock.

Several equities analysts recently weighed in on CRM shares. Wedbush increased their price target on shares of salesforce.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Barclays increased their price target on shares of salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Piper Jaffray Companies increased their price target on shares of salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Morgan Stanley increased their price target on shares of salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research report on Tuesday, August 14th. Finally, Sanford C. Bernstein restated a “neutral” rating and set a $149.00 price target on shares of salesforce.com in a research report on Wednesday, November 28th. Four equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $168.08.

Shares of NYSE:CRM opened at $142.06 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $106.52 billion, a price-to-earnings ratio of 108.78, a price-to-earnings-growth ratio of 4.23 and a beta of 1.42. salesforce.com, inc. has a twelve month low of $101.32 and a twelve month high of $161.19.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. Analysts predict that salesforce.com, inc. will post 1.32 EPS for the current fiscal year.

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salesforce.com Profile

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.

Further Reading: How a Put Option Works

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

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