Klingenstein Fields & Co. LLC Invests $17.43 Million in salesforce.com, inc. (NYSE:CRM)

Klingenstein Fields & Co. LLC bought a new position in salesforce.com, inc. (NYSE:CRM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 127,271 shares of the CRM provider’s stock, valued at approximately $17,432,000.

Several other hedge funds have also modified their holdings of CRM. Sterling Investment Advisors Ltd. purchased a new stake in salesforce.com during the fourth quarter worth $54,000. Endurance Wealth Management Inc. boosted its stake in salesforce.com by 300.0% during the 4th quarter. Endurance Wealth Management Inc. now owns 600 shares of the CRM provider’s stock valued at $82,000 after purchasing an additional 450 shares in the last quarter. Watermark Asset Management Inc. boosted its stake in shares of salesforce.com by 20.2% during the 4th quarter. Watermark Asset Management Inc. now owns 619 shares of the CRM provider’s stock worth $85,000 after acquiring an additional 104 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in shares of salesforce.com by 534.1% in the fourth quarter. Kistler Tiffany Companies LLC now owns 799 shares of the CRM provider’s stock valued at $109,000 after purchasing an additional 673 shares in the last quarter. Finally, Botty Investors LLC purchased a new stake in shares of salesforce.com during the third quarter worth $123,000. Institutional investors and hedge funds own 85.17% of the company’s stock.

NYSE CRM opened at $160.40 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. salesforce.com, inc. has a one year low of $106.73 and a one year high of $163.57. The firm has a market capitalization of $122.33 billion, a P/E ratio of 356.44, a PEG ratio of 5.08 and a beta of 1.37.

salesforce.com (NYSE:CRM) last announced its quarterly 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 business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.37 billion. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. On average, sell-side analysts forecast that salesforce.com, inc. will post 1.32 earnings per share for the current year.

In related news, General Counsel Amy E. Weaver sold 381 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $125.30, for a total value of $47,739.30. Following the sale, the general counsel now owns 22,262 shares in the company, valued at $2,789,428.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 362 shares of the firm’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $149.15, for a total value of $53,992.30. Following the transaction, the insider now owns 1,517 shares of the company’s stock, valued at $226,260.55. The disclosure for this sale can be found here. Insiders have sold a total of 521,985 shares of company stock worth $72,639,949 in the last quarter. 6.00% of the stock is currently owned by company insiders.

Several research analysts recently weighed in on CRM shares. Zacks Investment Research upgraded shares of salesforce.com from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a research report on Friday, November 30th. Robert W. Baird lowered their price objective on shares of salesforce.com from $180.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 28th. Sanford C. Bernstein reiterated a “neutral” rating and set a $149.00 price target on shares of salesforce.com in a report on Wednesday, November 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $160.00 price target on shares of salesforce.com in a report on Wednesday, November 28th. Finally, Wedbush lifted their price objective on shares of salesforce.com from $160.00 to $166.00 in a research note on Sunday, December 2nd. Three analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $170.38.

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About salesforce.com

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.

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

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