Glen Harbor Capital Management LLC raised its position in salesforce.com, inc. (NYSE:CRM) by 37.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,900 shares of the CRM provider’s stock after purchasing an additional 7,028 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in salesforce.com were worth $3,533,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRM. Robeco Institutional Asset Management B.V. increased its position in salesforce.com by 135.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 54,575 shares of the CRM provider’s stock valued at $6,347,000 after acquiring an additional 31,378 shares during the last quarter. Wealthfront Inc. increased its position in salesforce.com by 4.2% during the first quarter. Wealthfront Inc. now owns 16,142 shares of the CRM provider’s stock valued at $1,877,000 after acquiring an additional 646 shares during the last quarter. Penobscot Investment Management Company Inc. purchased a new stake in salesforce.com during the first quarter valued at $637,000. Engineers Gate Manager LP increased its position in salesforce.com by 232.5% during the first quarter. Engineers Gate Manager LP now owns 64,227 shares of the CRM provider’s stock valued at $7,470,000 after acquiring an additional 44,912 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in salesforce.com during the first quarter valued at $415,000. 82.74% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Parker Harris sold 5,711 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $152.69, for a total transaction of $872,012.59. Following the completion of the transaction, the insider now directly owns 27,938 shares of the company’s stock, valued at $4,265,853.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $139.09, for a total value of $695,450.00. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 18,000 shares of company stock valued at $2,584,260 and have sold 451,184 shares valued at $65,021,825. 6.00% of the stock is currently owned by corporate insiders.

CRM has been the subject of a number of research reports. SunTrust Banks upped their price objective on salesforce.com to $170.00 and gave the company a “positive” rating in a research report on Thursday, August 30th. Deutsche Bank upped their price objective on salesforce.com from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. Canaccord Genuity upped their price objective on salesforce.com from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. Pivotal Research upped their price objective on salesforce.com from $120.00 to $140.00 and gave the company a “hold” rating in a research report on Tuesday, September 4th. Finally, Morgan Stanley upped their price objective on salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research report on Tuesday, August 14th. Five analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $159.97.

Shares of NYSE CRM traded down $0.69 during mid-day trading on Friday, reaching $157.49. The company’s stock had a trading volume of 4,593,527 shares, compared to its average volume of 5,172,523. The firm has a market cap of $117.57 billion, a price-to-earnings ratio of 349.98, a price-to-earnings-growth ratio of 5.11 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. salesforce.com, inc. has a 52 week low of $92.11 and a 52 week high of $158.79.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was up 27.3% on a year-over-year basis. research analysts expect that salesforce.com, inc. will post 1.22 EPS for the current fiscal year.

salesforce.com 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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