Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Salesforce.com Inc (NYSE:CRM) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,667 shares of the CRM provider’s stock after buying an additional 226 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Salesforce.com were worth $385,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. increased its position in shares of Salesforce.com by 487.0% in the fourth quarter. Bessemer Group Inc. now owns 3,845 shares of the CRM provider’s stock valued at $263,000 after buying an additional 3,190 shares during the last quarter. Prudential PLC increased its position in shares of Salesforce.com by 1.8% in the fourth quarter. Prudential PLC now owns 16,537 shares of the CRM provider’s stock valued at $1,131,000 after buying an additional 300 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Salesforce.com by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 686,065 shares of the CRM provider’s stock valued at $46,972,000 after buying an additional 12,512 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Salesforce.com by 13.7% in the fourth quarter. Baird Financial Group Inc. now owns 205,341 shares of the CRM provider’s stock valued at $14,058,000 after buying an additional 24,694 shares during the last quarter. Finally, United Bank acquired a new position in shares of Salesforce.com during the fourth quarter valued at about $972,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Salesforce.com Inc (CRM) opened at 86.00 on Friday. The company has a 50-day moving average of $88.47 and a 200 day moving average of $81.01. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $91.99. The firm has a market capitalization of $61.25 billion, a PE ratio of 455.03 and a beta of 1.24.

Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business earned $0.24 earnings per share. Salesforce.com’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts predict that Salesforce.com Inc will post $1.30 EPS for the current year.

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Several research analysts have issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and set a $80.00 price objective on shares of Salesforce.com in a research report on Friday. BidaskClub downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr raised shares of Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 price objective on the stock in a research report on Monday, June 12th. Piper Jaffray Companies reissued an “overweight” rating and set a $110.00 price objective (up from $105.00) on shares of Salesforce.com in a research report on Monday, June 5th. Finally, ValuEngine raised shares of Salesforce.com from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $96.78.

In related news, insider Joe Allanson sold 279 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $90.77, for a total value of $25,324.83. Following the completion of the transaction, the insider now directly owns 28,753 shares of the company’s stock, valued at $2,609,909.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Burke F. Norton sold 379,189 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the completion of the transaction, the executive vice president now directly owns 82,843 shares of the company’s stock, valued at $7,569,364.91. The disclosure for this sale can be found here. Insiders sold 1,578,176 shares of company stock valued at $137,994,329 over the last three months. 6.70% of the stock is owned by company insiders.

Salesforce.com Company Profile

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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