Trust Co. of Toledo NA OH Invests $373,000 in Salesforce.com Inc (CRM)

Trust Co. of Toledo NA OH purchased a new position in Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,300 shares of the CRM provider’s stock, valued at approximately $373,000.

A number of other institutional investors also recently made changes to their positions in CRM. Dimensional Fund Advisors LP raised its stake in shares of Salesforce.com by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 686,065 shares of the CRM provider’s stock worth $46,972,000 after buying an additional 12,512 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Salesforce.com during the fourth quarter valued at $16,734,000. Perigon Wealth Management LLC raised its stake in Salesforce.com by 49.2% in the fourth quarter. Perigon Wealth Management LLC now owns 46,770 shares of the CRM provider’s stock valued at $3,845,000 after buying an additional 15,413 shares in the last quarter. Teachers Advisors LLC raised its stake in Salesforce.com by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 2,653,210 shares of the CRM provider’s stock valued at $181,639,000 after buying an additional 633,760 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Salesforce.com during the fourth quarter valued at $3,171,000. 85.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of Salesforce.com Inc (CRM) traded up 0.75% during midday trading on Friday, hitting $88.29. 2,881,537 shares of the stock traded hands. The stock has a market cap of $62.88 billion, a price-to-earnings ratio of 467.14 and a beta of 1.29. The firm has a 50-day moving average price of $89.19 and a 200 day moving average price of $85.57. Salesforce.com Inc has a one year low of $66.43 and a one year high of $92.13.

Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts anticipate that Salesforce.com Inc will post $1.30 earnings per share for the current year.

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CRM has been the subject of a number of research reports. Northland Securities set a $105.00 price objective on Salesforce.com and gave the company a “buy” rating in a research report on Saturday, June 24th. MKM Partners reissued a “buy” rating and set a $104.00 price target (up previously from $98.00) on shares of Salesforce.com in a report on Friday, May 19th. Jefferies Group LLC reissued a “hold” rating and set a $80.00 price target on shares of Salesforce.com in a report on Monday, May 22nd. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, May 22nd. Finally, Mizuho reissued a “buy” rating and set a $100.00 price target (up from $95.00) on shares of Salesforce.com in a research note on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $97.31.

In other news, insider Maria Martinez sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the sale, the insider now directly owns 30,907 shares of the company’s stock, valued at approximately $2,843,444. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $90.29, for a total transaction of $724,757.83. Following the completion of the sale, the insider now directly owns 49,913 shares of the company’s stock, valued at $4,506,644.77. The disclosure for this sale can be found here. Insiders have sold a total of 1,396,066 shares of company stock valued at $125,528,615 over the last three months. 6.70% of the stock is currently owned by company insiders.

About Salesforce.com

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

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