SPC Financial Inc. reduced its stake in salesforce.com, inc. (NYSE:CRM) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,387 shares of the CRM provider’s stock after selling 275 shares during the quarter. SPC Financial Inc.’s holdings in salesforce.com were worth $817,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in salesforce.com by 0.8% in the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock worth $14,208,366,000 after purchasing an additional 698,321 shares during the period. BlackRock Inc. raised its holdings in salesforce.com by 4.7% in the 1st quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock worth $8,498,982,000 after purchasing an additional 2,395,193 shares during the period. Jennison Associates LLC raised its holdings in salesforce.com by 1.2% in the 1st quarter. Jennison Associates LLC now owns 19,902,070 shares of the CRM provider’s stock worth $3,151,891,000 after purchasing an additional 230,376 shares during the period. Janus Henderson Group PLC increased its stake in salesforce.com by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock worth $2,009,810,000 after buying an additional 1,516,132 shares in the last quarter. Finally, Northern Trust Corp increased its stake in salesforce.com by 1.3% in the 1st quarter. Northern Trust Corp now owns 10,683,259 shares of the CRM provider’s stock worth $1,691,907,000 after buying an additional 140,368 shares in the last quarter. 82.05% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on CRM shares. Compass Point started coverage on salesforce.com in a research note on Tuesday. They issued a “buy” rating and a $190.00 price target for the company. Morgan Stanley set a $178.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Monday. Nomura reiterated a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a research note on Tuesday. SunTrust Banks increased their price target on salesforce.com to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $180.00.
In related news, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $142.17, for a total value of $1,421,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $143.64, for a total value of $89,056.80. Following the completion of the transaction, the insider now owns 30,092 shares of the company’s stock, valued at approximately $4,322,414.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,671 shares of company stock valued at $47,578,569. 5.50% of the stock is currently owned by company insiders.
Shares of salesforce.com stock traded up $2.27 during trading on Thursday, reaching $141.99. 4,296,716 shares of the stock traded hands, compared to its average volume of 7,468,685. The firm has a market cap of $109.20 billion, a P/E ratio of 97.92, a price-to-earnings-growth ratio of 5.17 and a beta of 1.27. The firm’s fifty day moving average price is $152.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. salesforce.com, inc. has a 52-week low of $113.60 and a 52-week high of $167.56.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. On average, sell-side analysts predict that salesforce.com, inc. will post 1.25 EPS for the current year.
salesforce.com Company Profile
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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