BTIM Corp. Purchases New Stake in salesforce.com, inc. (CRM)

BTIM Corp. purchased a new position in shares of salesforce.com, inc. (NYSE:CRM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,313 shares of the CRM provider’s stock, valued at approximately $208,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc grew its position in shares of salesforce.com by 4.6% in the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after purchasing an additional 2,398,648 shares during the period. BlackRock Inc. grew its position in shares of salesforce.com by 9.2% in the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock valued at $7,022,474,000 after purchasing an additional 4,321,630 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of salesforce.com by 29,364.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock valued at $159,000 after purchasing an additional 21,642,889 shares during the period. Jennison Associates LLC grew its position in shares of salesforce.com by 18.3% in the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock valued at $2,694,432,000 after purchasing an additional 3,041,293 shares during the period. Finally, Morgan Stanley grew its position in shares of salesforce.com by 2.0% in the third quarter. Morgan Stanley now owns 14,792,319 shares of the CRM provider’s stock valued at $2,352,421,000 after purchasing an additional 296,317 shares during the period. 83.02% of the stock is owned by institutional investors.

CRM has been the subject of a number of recent analyst reports. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Macquarie lifted their price objective on salesforce.com from $174.00 to $188.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Robert W. Baird lifted their price objective on salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Zacks Investment Research downgraded salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Raymond James lifted their price objective on salesforce.com from $165.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $177.82.

In other salesforce.com news, CAO Joe Allanson sold 667 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $159.60, for a total transaction of $106,453.20. Following the transaction, the chief accounting officer now owns 31,633 shares in the company, valued at $5,048,626.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark J. Hawkins sold 440 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $159.05, for a total value of $69,982.00. Following the transaction, the chief financial officer now owns 21,162 shares in the company, valued at approximately $3,365,816.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 445,691 shares of company stock worth $70,458,306. 6.00% of the stock is currently owned by insiders.

Shares of CRM opened at $155.99 on Friday. The stock has a market cap of $120.23 billion, a price-to-earnings ratio of 107.58, a P/E/G ratio of 5.34 and a beta of 1.39. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $166.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.14. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts predict that salesforce.com, inc. will post 1.31 earnings per share for the current fiscal year.

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salesforce.com Company 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.

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

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