Fort Point Capital Partners buys $9,402,047 stake in salesforce.com (CRM)

salesforce.com (CRM) : Fort Point Capital Partners scooped up 25,000 additional shares in salesforce.com during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 129,220 shares of salesforce.com which is valued at $9,402,047.salesforce.com makes up approximately 4.17% of Fort Point Capital Partners’s portfolio.

Other Hedge Funds, Including , Alphaone Investment Services added CRM to its portfolio by purchasing 3,520 company shares during the most recent quarter which is valued at $256,115. salesforce.com makes up approx 0.09% of Alphaone Investment Services’s portfolio. Quadrature Capital Ltd sold out all of its stake in CRM during the most recent quarter. The investment firm sold 29,000 shares of CRM which is valued $2,135,270.Covington Investment Advisors reduced its stake in CRM by selling 1,385 shares or 3.15% in the most recent quarter. The Hedge Fund company now holds 42,545 shares of CRM which is valued at $3,229,166. salesforce.com makes up approx 1.48% of Covington Investment Advisors’s portfolio.First Manhattan Co reduced its stake in CRM by selling 88 shares or 8.09% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of CRM which is valued at $72,820.

salesforce.com opened for trading at $79.57 and hit $80.37 on the upside on Monday, eventually ending the session at $77.77, with a gain of 3.43% or 2.58 points. The heightened volatility saw the trading volume jump to 1,99,02,956 shares. Company has a market cap of $52,817 M.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Nov 17, 2016. Analyst had a consensus of $0.21. The company had revenue of $2144.77 million for the quarter, compared to analysts expectations of $2117.98 million. The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on salesforce.com. Company shares were Reiterated by BMO Capital Markets on Nov 18, 2016 to “Outperform”, Firm has raised the Price Target to $ 90 from a previous price target of $86 .Company shares were Reiterated by Mizuho on Nov 18, 2016 to “Buy”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Company shares were Reiterated by Wedbush on Nov 18, 2016 to “Outperform”, Firm has raised the Price Target to $ 98 from a previous price target of $96 .

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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