State Treasurer State of Michigan Acquires 1,400 Shares of salesforce.com, inc. (CRM)

State Treasurer State of Michigan grew its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 0.6% during the first quarter, HoldingsChannel reports. The firm owned 220,456 shares of the CRM provider’s stock after purchasing an additional 1,400 shares during the period. State Treasurer State of Michigan’s holdings in salesforce.com were worth $34,914,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRM. Oregon Public Employees Retirement Fund raised its holdings in shares of salesforce.com by 29,364.2% during the 4th 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 in the last quarter. Norges Bank bought a new position in shares of salesforce.com during the 4th quarter valued at $938,778,000. Lunia Capital LP bought a new position in shares of salesforce.com during the 4th quarter valued at $5,811,000. BlackRock Inc. raised its holdings in shares of salesforce.com by 9.2% during the 4th 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 in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of salesforce.com by 18.3% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

NYSE CRM opened at $154.57 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $119.14 billion, a price-to-earnings ratio of 106.60, a P/E/G ratio of 5.70 and a beta of 1.37. salesforce.com, inc. has a 52-week low of $113.60 and a 52-week high of $167.56.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the business posted $0.35 EPS. Research analysts forecast that salesforce.com, inc. will post 1.18 EPS for the current fiscal year.

In other news, Director Craig Conway sold 200 shares of salesforce.com stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $161.00, for a total transaction of $32,200.00. Following the sale, the director now directly owns 9,310 shares in the company, valued at approximately $1,498,910. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $160.07, for a total transaction of $1,600,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 433,731 shares of company stock worth $69,408,200. 5.50% of the stock is owned by company insiders.

A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a research note on Wednesday, April 17th. Robert W. Baird raised their target price on shares of salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Mizuho assumed coverage on shares of salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 target price on the stock. Finally, JMP Securities reiterated a “buy” rating and issued a $178.00 target price on shares of salesforce.com in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $177.82.

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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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