Moreno Evelyn V lowered its stake in shares of salesforce.com, inc. (NYSE:CRM) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,687 shares of the CRM provider’s stock after selling 279 shares during the quarter. salesforce.com comprises 2.4% of Moreno Evelyn V’s holdings, making the stock its 13th largest holding. Moreno Evelyn V’s holdings in salesforce.com were worth $7,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CRM. BlackRock Inc. grew its holdings in salesforce.com by 4.7% in the first quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock valued at $8,498,982,000 after purchasing an additional 2,395,193 shares during the period. Janus Henderson Group PLC raised its position in salesforce.com by 12.9% in the second quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock valued at $2,009,810,000 after purchasing an additional 1,516,132 shares during the period. FIL Ltd raised its position in salesforce.com by 158.1% in the first quarter. FIL Ltd now owns 1,901,195 shares of the CRM provider’s stock valued at $301,093,000 after purchasing an additional 1,164,713 shares during the period. FMR LLC raised its holdings in shares of salesforce.com by 0.8% in the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock valued at $14,208,366,000 after buying an additional 698,321 shares during the period. Finally, Swedbank raised its holdings in shares of salesforce.com by 40.7% in the 2nd quarter. Swedbank now owns 1,711,659 shares of the CRM provider’s stock valued at $259,710,000 after buying an additional 495,428 shares during the period. 82.05% of the stock is currently owned by institutional investors.
CRM has been the topic of several research analyst reports. ValuEngine downgraded salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Nomura reiterated a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a report on Tuesday. UBS Group set a $190.00 price objective on salesforce.com and gave the company a “buy” rating in a report on Tuesday, June 11th. Compass Point started coverage on salesforce.com in a research note on Tuesday. They set a “buy” rating and a $190.00 target price for the company. Finally, Evercore ISI set a $190.00 target price on salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $180.00.
In other news, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $142.17, for a total transaction of $1,421,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark J. Hawkins sold 15,271 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $157.31, for a total value of $2,402,281.01. Following the transaction, the insider now directly owns 24,375 shares of the company’s stock, valued at $3,834,431.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 309,671 shares of company stock valued at $47,578,569. 5.50% of the stock is owned by company insiders.
Shares of NYSE CRM traded up $3.20 during trading hours on Thursday, reaching $142.92. The stock had a trading volume of 3,594,857 shares, compared to its average volume of 7,468,685. The stock has a market capitalization of $109.20 billion, a price-to-earnings ratio of 98.57, a price-to-earnings-growth ratio of 5.17 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The business’s 50-day simple moving average is $152.66.
salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The business’s revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. Equities analysts anticipate that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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