Bridge Creek Capital Management LLC Buys 5,538 Shares of salesforce.com, inc. (NYSE:CRM)

Bridge Creek Capital Management LLC boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 305.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,354 shares of the CRM provider’s stock after acquiring an additional 5,538 shares during the period. Bridge Creek Capital Management LLC’s holdings in salesforce.com were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Avondale Wealth Management lifted its holdings in salesforce.com by 100.0% during the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Citizens Financial Group Inc RI bought a new position in salesforce.com during the first quarter worth about $27,000. CX Institutional lifted its holdings in salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 145 shares in the last quarter. Arcadia Investment Management Corp MI lifted its holdings 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 acquiring an additional 68 shares in the last quarter. Finally, Avestar Capital LLC lifted its holdings in shares of salesforce.com by 108.7% in the first quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

A number of analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a GBX 150 ($1.96) price target on shares of in a report on Monday, June 17th. Nomura cut their price target on Capri from $76.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Jefferies Financial Group set a $189.00 price target on salesforce.com and gave the company a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a report on Monday, June 3rd. Finally, SunTrust Banks restated a “hold” rating and issued a $60.00 price target on shares of Tripadvisor in a report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and an average target price of $180.11.

Shares of NYSE CRM opened at $159.97 on Monday. The stock’s 50 day simple moving average is $154.95. The firm has a market capitalization of $124.14 billion, a P/E ratio of 102.54, a PEG ratio of 5.88 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The business’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities analysts forecast that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.

In other salesforce.com news, insider Parker Harris sold 6,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $157.43, for a total transaction of $996,531.90. Following the transaction, the insider now owns 33,882 shares of the company’s stock, valued at $5,334,043.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark J. Hawkins sold 846 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.01, for a total value of $140,444.46. Following the transaction, the insider now directly owns 20,316 shares in the company, valued at approximately $3,372,659.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 342,055 shares of company stock worth $53,295,533. Company 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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