Edgestream Partners L.P. Has $2.07 Million Position in salesforce.com, inc. (NYSE:CRM)

Edgestream Partners L.P. increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 292.8% during the second quarter, Holdings Channel reports. The institutional investor owned 8,452 shares of the CRM provider’s stock after purchasing an additional 6,300 shares during the quarter. Edgestream Partners L.P.’s holdings in salesforce.com were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wade G W & Inc. grew its holdings in shares of salesforce.com by 144.5% during the 1st quarter. Wade G W & Inc. now owns 6,875 shares of the CRM provider’s stock worth $1,457,000 after purchasing an additional 4,063 shares in the last quarter. Commerce Bank lifted its position in salesforce.com by 12.5% in the first quarter. Commerce Bank now owns 40,881 shares of the CRM provider’s stock worth $8,662,000 after purchasing an additional 4,528 shares during the period. Shikiar Asset Management Inc. boosted its stake in salesforce.com by 3.6% during the first quarter. Shikiar Asset Management Inc. now owns 18,562 shares of the CRM provider’s stock worth $3,933,000 after buying an additional 650 shares in the last quarter. Strategic Advisors LLC increased its holdings in salesforce.com by 4.1% in the 1st quarter. Strategic Advisors LLC now owns 13,768 shares of the CRM provider’s stock valued at $2,917,000 after buying an additional 536 shares during the period. Finally, Middleton & Co Inc MA raised its stake in shares of salesforce.com by 1.1% in the 1st quarter. Middleton & Co Inc MA now owns 97,016 shares of the CRM provider’s stock valued at $22,345,000 after buying an additional 1,022 shares in the last quarter. Hedge funds and other institutional investors own 77.33% of the company’s stock.

CRM stock opened at $254.37 on Wednesday. salesforce.com, inc. has a 1-year low of $201.51 and a 1-year high of $275.22. The business’s 50 day simple moving average is $251.35 and its 200 day simple moving average is $235.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $249.03 billion, a PE ratio of 102.16, a PEG ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. As a group, sell-side analysts predict that salesforce.com, inc. will post 2.09 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. Sanford C. Bernstein upped their target price on shares of salesforce.com from $266.00 to $290.00 and gave the company a “market perform” rating in a research note on Thursday, August 26th. Robert W. Baird reissued a “buy” rating and issued a $295.00 target price on shares of salesforce.com in a report on Sunday, August 22nd. Societe Generale boosted their price target on shares of salesforce.com from $290.00 to $321.00 and gave the company a “buy” rating in a research report on Friday, August 27th. Raymond James raised their price target on salesforce.com from $280.00 to $340.00 and gave the company a “strong-buy” rating in a report on Thursday, August 26th. Finally, Monness Crespi & Hardt increased their target price on salesforce.com from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $298.33.

In other news, insider Srinivas Tallapragada sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the transaction, the insider now directly owns 68,921 shares of the company’s stock, valued at $17,299,171. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $244.65, for a total value of $4,893,000.00. The disclosure for this sale can be found here. Insiders sold a total of 776,356 shares of company stock valued at $194,260,597 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

Further Reading: Green Investing

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

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