Picton Mahoney Asset Management Purchases 21,405 Shares of salesforce.com, inc. (NYSE:CRM)

Picton Mahoney Asset Management raised its position in salesforce.com, inc. (NYSE:CRM) by 11.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 215,326 shares of the CRM provider’s stock after purchasing an additional 21,405 shares during the period. salesforce.com comprises approximately 2.2% of Picton Mahoney Asset Management’s portfolio, making the stock its 7th biggest holding. Picton Mahoney Asset Management’s holdings in salesforce.com were worth $32,671,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CRM. Massey Quick Simon & CO. LLC purchased a new stake in shares of salesforce.com in the second quarter valued at $26,000. Citizens Financial Group Inc RI purchased a new position in salesforce.com during the first quarter worth about $27,000. Arcadia Investment Management Corp MI lifted its position in salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after buying an additional 68 shares during the period. Personal Wealth Partners purchased a new position in salesforce.com during the second quarter worth about $28,000. Finally, Brand Asset Management Group Inc. purchased a new position in salesforce.com during the first quarter worth about $30,000. 82.03% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on CRM shares. ValuEngine downgraded salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI set a $190.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group set a $190.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Sanford C. Bernstein reiterated a “neutral” rating and set a $169.00 target price on shares of salesforce.com in a research report on Tuesday, June 11th. Finally, Monness Crespi & Hardt raised their price objective on salesforce.com from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $182.03.

CRM stock traded up $3.33 during mid-day trading on Friday, hitting $151.57. 25,282,773 shares of the company were exchanged, compared to its average volume of 8,017,926. The business has a 50 day simple moving average of $151.46 and a 200-day simple moving average of $156.21. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $114.37 billion, a PE ratio of 104.53, a price-to-earnings-growth ratio of 5.40 and a beta of 1.27. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56.

salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.57. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts expect that salesforce.com, inc. will post 1.26 earnings per share for the current year.

In related news, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $156.09, for a total value of $96,775.80. Following the transaction, the insider now directly owns 30,281 shares of the company’s stock, valued at $4,726,561.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $140.98, for a total transaction of $1,409,800.00. The disclosure for this sale can be found here. Insiders have sold 301,802 shares of company stock worth $45,891,621 over the last ninety days. Insiders own 5.50% of the company’s stock.

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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