Light Street Capital Management adds salesforce.com (CRM) to its portfolio

salesforce.com (CRM) : Light Street Capital Management added new position in salesforce.com during the most recent quarter end. The investment management firm now holds 180,000 shares of salesforce.com which is valued at $14,693,400 , the company said in a statement filed on Aug 15, 2016 with the SEC.salesforce.com makes up approximately 2.22% of Light Street Capital Management’s portfolio.

Other Hedge Funds, Including , Capital World Investors reduced its stake in CRM by selling 12,243,009 shares or 64.49% in the most recent quarter. The Hedge Fund company now holds 6,740,538 shares of CRM which is valued at $550,230,117. salesforce.com makes up approx 0.14% of Capital World Investors’s portfolio.Blackrock Advisors reduced its stake in CRM by selling 302,324 shares or 12.65% in the most recent quarter. The Hedge Fund company now holds 2,088,523 shares of CRM which is valued at $170,486,132. salesforce.com makes up approx 0.18% of Blackrock Advisors’s portfolio.Eaton Vance Management boosted its stake in CRM in the latest quarter, The investment management firm added 19,383 additional shares and now holds a total of 589,868 shares of salesforce.com which is valued at $48,062,445. salesforce.com makes up approx 0.13% of Eaton Vance Management’s portfolio.Royal London Asset Management Ltd reduced its stake in CRM by selling 12,446 shares or 5.8% in the most recent quarter. The Hedge Fund company now holds 202,025 shares of CRM which is valued at $16,244,830. salesforce.com makes up approx 0.26% of Royal London Asset Management Ltd’s portfolio.Fny Managed Accounts reduced its stake in CRM by selling 2,566 shares or 83.69% in the most recent quarter. The Hedge Fund company now holds 500 shares of CRM which is valued at $40,750. salesforce.com makes up approx 0.04% of Fny Managed Accounts’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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