Investment House LLC maintained its position in shares of Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,915 shares of the CRM provider’s stock at the end of the second quarter. Investment House LLC’s holdings in Salesforce.com were worth $426,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Atlas Brown Inc. increased its position in Salesforce.com by 3.7% in the first quarter. Atlas Brown Inc. now owns 3,577 shares of the CRM provider’s stock worth $295,000 after buying an additional 128 shares in the last quarter. Rathbone Brothers plc increased its position in Salesforce.com by 16.4% in the first quarter. Rathbone Brothers plc now owns 276,140 shares of the CRM provider’s stock worth $22,779,000 after buying an additional 39,000 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Salesforce.com by 6.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 566,479 shares of the CRM provider’s stock worth $46,729,000 after buying an additional 32,041 shares in the last quarter. Moreno Evelyn V purchased a new position in Salesforce.com during the first quarter worth approximately $3,867,000. Finally, Rosenbaum Jay D. purchased a new position in Salesforce.com during the first quarter worth approximately $477,000. 85.87% of the stock is owned by hedge funds and other institutional investors.
Shares of Salesforce.com Inc (CRM) traded up 0.75% during trading on Friday, hitting $88.29. 2,882,037 shares of the stock were exchanged. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $92.13. The firm has a market capitalization of $62.88 billion, a price-to-earnings ratio of 467.14 and a beta of 1.29. The stock’s 50 day moving average price is $89.18 and its 200 day moving average price is $85.65.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that Salesforce.com Inc will post $1.30 earnings per share for the current year.
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A number of research analysts have commented on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $110.00 target price (up previously from $105.00) on shares of Salesforce.com in a report on Monday, June 5th. ValuEngine raised Salesforce.com from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Credit Suisse Group began coverage on Salesforce.com in a report on Tuesday, August 1st. They set an “outperform” rating and a $110.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $102.00 price target on shares of Salesforce.com in a report on Monday, July 31st. Finally, Vetr downgraded Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price target on the stock. in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have assigned a buy rating to the company. Salesforce.com presently has an average rating of “Buy” and an average target price of $97.31.
In other news, insider Amy E. Weaver sold 1,400 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 17,913 shares of the company’s stock, valued at approximately $1,614,319.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $89.80, for a total transaction of $898,000.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at $3,070,737,940. 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 in the last three months. 6.70% of the stock is currently 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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