Fort Point Capital Partners buys $8,507,479 stake in salesforce.com (CRM)

salesforce.com (CRM) : Fort Point Capital Partners scooped up 180 additional shares in salesforce.com during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 104,220 shares of salesforce.com which is valued at $8,507,479.salesforce.com makes up approximately 3.87% of Fort Point Capital Partners’s portfolio.

Other Hedge Funds, Including , Putnam Investments boosted its stake in CRM in the latest quarter, The investment management firm added 409,476 additional shares and now holds a total of 2,324,964 shares of salesforce.com which is valued at $189,786,811. salesforce.com makes up approx 0.45% of Putnam Investments’s portfolio.Agran Libbie boosted its stake in CRM in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 3,685 shares of salesforce.com which is valued at $300,328. salesforce.com makes up approx 0.07% of Agran Libbie’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in CRM by selling 644 shares or 3.27% in the most recent quarter. The Hedge Fund company now holds 19,055 shares of CRM which is valued at $1,552,983. salesforce.com makes up approx 0.16% of Tokio Marine Asset Management Co Ltd’s portfolio.

salesforce.com closed down -3.51 points or -4.42% at $75.91 with 2,74,18,454 shares getting traded on Thursday. Post opening the session at $75.45, the shares hit an intraday low of $74.06 and an intraday high of $76.55 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 31, 2016. Analyst had a consensus of $0.22. The company had revenue of $2037.00 million for the quarter, compared to analysts expectations of $2019.61 million. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on salesforce.com. Shares were Reiterated by Mizuho on Sep 1, 2016 to “Buy” and Lowered the Price Target to $ 85 from a previous price target of $100 .Shares were Reiterated by BMO Capital Markets on Sep 1, 2016 to “Outperform” and Lowered the Price Target to $ 86 from a previous price target of $98 .Shares were Reiterated by RBC Capital Mkts on Sep 1, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $91 .

salesforce.com inc. is a provider of enterprise cloud computing solutions that include apps and platform services as well as professional services. The Company focuses on customer relationship management (CRM). The Company offers six core cloud services that include sales force automation customer service and support marketing automation community management analytics and a cloud platform for building custom applications. The Company offers consulting deployment training implementation and integration services to its customers to facilitate the adoption of its cloud solutions. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices on a subscription basis primarily through its direct sales efforts and indirectly through partners.

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