Wetherby Asset Management Inc. boosted its stake in Salesforce.com Inc (NYSE:CRM) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,616 shares of the CRM provider’s stock after buying an additional 829 shares during the period. Wetherby Asset Management Inc.’s holdings in Salesforce.com were worth $1,006,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. KBC Group NV raised its stake in Salesforce.com by 16.9% in the first quarter. KBC Group NV now owns 521,167 shares of the CRM provider’s stock valued at $42,991,000 after buying an additional 75,430 shares during the period. Compton Capital Management Inc. RI purchased a new stake in Salesforce.com during the first quarter valued at about $436,000. Shell Asset Management Co. raised its stake in Salesforce.com by 0.7% in the first quarter. Shell Asset Management Co. now owns 72,793 shares of the CRM provider’s stock valued at $6,005,000 after buying an additional 497 shares during the period. 1st Global Advisors Inc. raised its stake in Salesforce.com by 35.1% in the first quarter. 1st Global Advisors Inc. now owns 15,029 shares of the CRM provider’s stock valued at $1,240,000 after buying an additional 3,903 shares during the period. Finally, Nelson Roberts Investment Advisors LLC raised its stake in Salesforce.com by 1.0% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 74,979 shares of the CRM provider’s stock valued at $6,185,000 after buying an additional 725 shares during the period. 85.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Salesforce.com Inc (CRM) opened at 87.63 on Friday. The stock’s 50 day moving average is $89.19 and its 200 day moving average is $85.57. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $92.13. The firm has a market cap of $62.41 billion, a P/E ratio of 463.65 and a beta of 1.29.
Salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities research analysts expect that Salesforce.com Inc will post $1.30 EPS for the current year.
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Several analysts have issued reports on CRM shares. Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price target on the stock in a research report on Monday, May 15th. Zacks Investment Research lowered shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Credit Suisse Group started coverage on shares of Salesforce.com in a research report on Thursday, April 27th. They set an “outperform” rating and a $110.00 price target on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $102.00 price target on shares of Salesforce.com in a research report on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Sunday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $97.31.
In other Salesforce.com news, insider Parker Harris sold 8,027 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $90.29, for a total value of $724,757.83. Following the completion of the transaction, the insider now owns 49,913 shares in the company, valued at $4,506,644.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $85.73, for a total value of $857,300.00. Following the completion of the transaction, the chairman now owns 34,195,300 shares of the company’s stock, valued at approximately $2,931,563,069. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,396,066 shares of company stock valued at $125,528,615. 6.70% of the stock is owned by corporate insiders.
Salesforce.com Company Profile
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.
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