Prentice Wealth Management LLC Purchases 350 Shares of salesforce.com, inc. (NYSE:CRM)

Prentice Wealth Management LLC boosted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 165.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 562 shares of the CRM provider’s stock after buying an additional 350 shares during the quarter. Prentice Wealth Management LLC’s holdings in salesforce.com were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CRM. MBM Wealth Consultants LLC purchased a new stake in salesforce.com during the 1st quarter valued at about $25,000. Atlas Private Wealth Advisors boosted its holdings in salesforce.com by 115.3% during the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after acquiring an additional 68 shares during the period. Sage Financial Management Group Inc. purchased a new stake in salesforce.com during the 1st quarter valued at about $32,000. First PREMIER Bank purchased a new stake in salesforce.com in the 2nd quarter worth approximately $32,000. Finally, Providence Capital Advisors LLC lifted its holdings in salesforce.com by 87.2% in the 1st quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock worth $34,000 after buying an additional 75 shares during the period. Institutional investors own 77.33% of the company’s stock.

In other news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $269.36, for a total value of $5,387,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Joe Allanson sold 153 shares of the business’s stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $248.21, for a total value of $37,976.13. Following the completion of the transaction, the chief accounting officer now owns 31,412 shares in the company, valued at $7,796,772.52. The disclosure for this sale can be found here. Insiders have sold 778,386 shares of company stock worth $195,728,896 over the last quarter. 4.10% of the stock is owned by company insiders.

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. set a $310.00 price objective on salesforce.com in a report on Wednesday, September 1st. Mizuho increased their price objective on salesforce.com from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Barclays increased their price objective on salesforce.com from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, September 17th. They noted that the move was a valuation call. Bank of America increased their price objective on salesforce.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Finally, Zacks Investment Research cut salesforce.com from a “hold” rating to a “sell” rating and set a $273.00 price objective for the company. in a report on Wednesday, August 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $299.83.

NYSE CRM opened at $258.70 on Wednesday. The company has a market capitalization of $253.27 billion, a PE ratio of 103.60, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The business’s fifty day moving average is $252.69 and its 200 day moving average is $236.88. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $275.22.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.25 billion. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. salesforce.com’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. On average, sell-side analysts forecast that salesforce.com, inc. will post 2.09 EPS for the current year.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

Featured Article: Equity Income

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.