Castleark Management buys $57,537,722 stake in salesforce.com (CRM)

salesforce.com (CRM) : Castleark Management scooped up 23,120 additional shares in salesforce.com during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 704,860 shares of salesforce.com which is valued at $57,537,722.salesforce.com makes up approximately 1.75% of Castleark Management’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A reduced its stake in CRM by selling 31,106 shares or 7.15% in the most recent quarter. The Hedge Fund company now holds 403,765 shares of CRM which is valued at $32,959,337. salesforce.com makes up approx 0.12% of Credit Agricole S A’s portfolio.Stephens Inc Ar boosted its stake in CRM in the latest quarter, The investment management firm added 2,797 additional shares and now holds a total of 93,114 shares of salesforce.com which is valued at $7,572,962. salesforce.com makes up approx 0.33% of Stephens Inc Ar’s portfolio.Taylor Frigon Capital Management reduced its stake in CRM by selling 1,765 shares or 7.22% in the most recent quarter. The Hedge Fund company now holds 22,686 shares of CRM which is valued at $1,824,181. salesforce.com makes up approx 1.83% of Taylor Frigon Capital Management’s portfolio.Capital One National Association reduced its stake in CRM by selling 1,564 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 70,359 shares of CRM which is valued at $5,779,288. salesforce.com makes up approx 0.46% of Capital One National Association’s portfolio.First Manhattan Co boosted its stake in CRM in the latest quarter, The investment management firm added 88 additional shares and now holds a total of 1,088 shares of salesforce.com which is valued at $88,813.

salesforce.com opened for trading at $76.72 and hit $77.57 on the upside on Friday, eventually ending the session at $77.48, with a gain of 0.74% or 0.57 points. The heightened volatility saw the trading volume jump to 32,89,533 shares. Company has a market cap of $52,620 M.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.23. The company had revenue of $1.92 million for the quarter, compared to analysts expectations of $1892.96 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on salesforce.com. BMO Capital Markets Initiated salesforce.com on Jun 15, 2016 to “Outperform”, Price Target of the shares are set at $98.Company shares were Reiterated by Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 101 from a previous price target of $93 .

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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