State Board of Administration of Florida Retirement System lifted its stake in salesforce.com, inc. (NYSE:CRM) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,820 shares of the CRM provider’s stock after purchasing an additional 21,776 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of salesforce.com worth $132,420,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRM. Summit Trail Advisors LLC increased its stake in shares of salesforce.com by 13,535.6% in the 1st quarter. Summit Trail Advisors LLC now owns 1,814,629 shares of the CRM provider’s stock worth $1,815,000 after purchasing an additional 1,801,321 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of salesforce.com by 14.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock worth $1,027,545,000 after purchasing an additional 961,104 shares in the last quarter. Swedbank purchased a new stake in shares of salesforce.com in the 1st quarter worth $106,630,000. PointState Capital LP increased its stake in shares of salesforce.com by 25.9% in the 1st quarter. PointState Capital LP now owns 2,988,044 shares of the CRM provider’s stock worth $347,510,000 after purchasing an additional 615,029 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of salesforce.com by 34.0% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,189,395 shares of the CRM provider’s stock worth $254,627,000 after purchasing an additional 555,541 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

salesforce.com opened at $145.51 on Friday, according to MarketBeat Ratings. salesforce.com, inc. has a 52 week low of $87.26 and a 52 week high of $149.35. The stock has a market cap of $107.02 billion, a price-to-earnings ratio of 160.24, a P/E/G ratio of 5.78 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.46 by $0.28. salesforce.com had a net margin of 4.33% and a return on equity of 7.25%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 25.4% on a year-over-year basis. sell-side analysts forecast that salesforce.com, inc. will post 1.01 EPS for the current fiscal year.

Several equities research analysts have recently commented on CRM shares. Goldman Sachs Group restated a “buy” rating and issued a $140.00 price objective on shares of salesforce.com in a research note on Tuesday, May 29th. Credit Suisse Group upped their price objective on salesforce.com from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Barclays upped their price objective on salesforce.com from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 30th. JMP Securities upped their price objective on salesforce.com from $126.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 8th. Finally, Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $135.23.

In other news, Director Alan G. Hassenfeld sold 25,000 shares of the company’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $130.54, for a total transaction of $3,263,500.00. Following the sale, the director now directly owns 123,006 shares in the company, valued at approximately $16,057,203.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $128.31, for a total transaction of $1,924,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 18,000 shares of company stock worth $2,497,980 and have sold 601,048 shares worth $81,897,855. 6.00% of the stock is currently owned by corporate insiders.

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: Outstanding Shares, Buying and Selling Stocks

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

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