Stratos Wealth Partners LTD. boosted its position in shares of Salesforce.com Inc (NYSE:CRM) by 15.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,496 shares of the CRM provider’s stock after buying an additional 617 shares during the period. Stratos Wealth Partners LTD.’s holdings in Salesforce.com were worth $389,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. First Personal Financial Services boosted its position in shares of Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after buying an additional 112 shares in the last quarter. Dubuque Bank & Trust Co. boosted its position in shares of Salesforce.com by 387.1% in the first quarter. Dubuque Bank & Trust Co. now owns 1,622 shares of the CRM provider’s stock worth $134,000 after buying an additional 1,289 shares in the last quarter. Harfst & Associates Inc. bought a new position in shares of Salesforce.com during the first quarter worth approximately $141,000. Acrospire Investment Management LLC boosted its position in shares of Salesforce.com by 35.7% in the first quarter. Acrospire Investment Management LLC now owns 1,900 shares of the CRM provider’s stock worth $157,000 after buying an additional 500 shares in the last quarter. Finally, Pinnacle Bank bought a new position in shares of Salesforce.com during the first quarter worth approximately $181,000. 86.29% of the stock is owned by hedge funds and other institutional investors.
Salesforce.com Inc (CRM) traded down 0.13% on Friday, hitting $90.76. 3,046,785 shares of the stock were exchanged. The company has a 50-day moving average price of $89.63 and a 200 day moving average price of $86.11. The company has a market capitalization of $64.64 billion, a PE ratio of 480.21 and a beta of 1.29. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $92.49.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts anticipate that Salesforce.com Inc will post $1.30 EPS for the current fiscal year.
A number of research analysts have commented on CRM shares. Benchmark Co. boosted their price objective on Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Zacks Investment Research cut Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Barclays PLC boosted their price target on Salesforce.com from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Credit Suisse Group began coverage on Salesforce.com in a research note on Thursday, April 27th. They issued an “outperform” rating and a $110.00 price target on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $97.31.
In related news, insider Amy E. Weaver sold 1,400 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $90.12, for a total value of $126,168.00. Following the completion of the transaction, the insider now owns 17,913 shares of the company’s stock, valued at approximately $1,614,319.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Burke F. Norton sold 379,189 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $91.37, for a total transaction of $34,646,498.93. Following the completion of the transaction, the executive vice president now directly owns 82,843 shares of the company’s stock, valued at approximately $7,569,364.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,333,410 shares of company stock valued at $119,961,863. 6.70% of the stock is currently owned by insiders.
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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