Cubist Systematic Strategies LLC Purchases 92,875 Shares of Salesforce.com Inc (CRM)
Cubist Systematic Strategies LLC lifted its position in shares of Salesforce.com Inc (NYSE:CRM) by 215.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,050 shares of the CRM provider’s stock after buying an additional 92,875 shares during the period. Salesforce.com makes up about 0.7% of Cubist Systematic Strategies LLC’s holdings, making the stock its 4th biggest holding. Cubist Systematic Strategies LLC’s holdings in Salesforce.com were worth $12,710,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CRM. Global X Management Co. LLC boosted its position in Salesforce.com by 12.6% in the 2nd quarter. Global X Management Co. LLC now owns 3,577 shares of the CRM provider’s stock valued at $310,000 after buying an additional 400 shares during the last quarter. National Planning Corp purchased a new position in Salesforce.com in the 2nd quarter valued at about $267,000. Bingham Osborn & Scarborough LLC boosted its position in Salesforce.com by 32.5% in the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 24,382 shares of the CRM provider’s stock valued at $2,111,000 after buying an additional 5,981 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Salesforce.com by 19.0% during the second quarter. Advisors Asset Management Inc. now owns 28,863 shares of the CRM provider’s stock worth $2,500,000 after purchasing an additional 4,604 shares during the last quarter. Finally, Rational Advisors LLC bought a new position in shares of Salesforce.com during the second quarter worth about $488,000. Institutional investors and hedge funds own 85.75% of the company’s stock.
Shares of Salesforce.com Inc (NYSE:CRM) opened at $103.49 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $74,714.72, a P/E ratio of 323.25, a P/E/G ratio of 9.72 and a beta of 1.24. Salesforce.com Inc has a 12 month low of $68.23 and a 12 month high of $109.19.
Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. analysts predict that Salesforce.com Inc will post 0.43 EPS for the current year.
In other Salesforce.com news, Director Craig Conway sold 250 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.90, for a total value of $26,475.00. Following the completion of the sale, the director now owns 9,408 shares in the company, valued at $996,307.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Keith Block sold 10,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $106.14, for a total transaction of $1,061,400.00. Following the completion of the sale, the chief operating officer now owns 28,235 shares of the company’s stock, valued at approximately $2,996,862.90. The disclosure for this sale can be found here. Insiders sold 670,072 shares of company stock valued at $68,439,414 in the last quarter. Corporate insiders own 6.20% of the company’s stock.
Several equities analysts have recently commented on the stock. Vetr cut shares of Salesforce.com from a “hold” rating to a “sell” rating and set a $104.56 price target on the stock. in a research report on Tuesday, November 21st. BMO Capital Markets raised their target price on shares of Salesforce.com from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Piper Jaffray Companies reissued an “overweight” rating and issued a $135.00 target price on shares of Salesforce.com in a report on Wednesday, November 22nd. KeyCorp reissued an “overweight” rating and issued a $124.00 target price (up previously from $108.00) on shares of Salesforce.com in a report on Wednesday, November 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Salesforce.com from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $112.48.
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Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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