Twin Capital Management Inc. decreased its stake in salesforce.com, inc. (NYSE:CRM) by 36.5% in the second quarter, Holdings Channel reports. The institutional investor owned 47,540 shares of the CRM provider’s stock after selling 27,330 shares during the quarter. Twin Capital Management Inc.’s holdings in salesforce.com were worth $7,213,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CRM. BlackRock Inc. lifted its position 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 buying an additional 2,395,193 shares in the last quarter. Janus Henderson Group PLC lifted its position 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. FIL Ltd lifted its position in salesforce.com by 158.1% in the 1st quarter. FIL Ltd now owns 1,901,195 shares of the CRM provider’s stock worth $301,093,000 after buying an additional 1,164,713 shares in the last quarter. FMR LLC lifted its position 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 buying an additional 698,321 shares in the last quarter. Finally, Swedbank lifted its position in salesforce.com by 40.7% in the 2nd quarter. Swedbank now owns 1,711,659 shares of the CRM provider’s stock worth $259,710,000 after buying an additional 495,428 shares in the last quarter. Institutional investors own 82.05% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Nomura reiterated a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a research report on Tuesday. UBS Group set a $190.00 price target on shares of salesforce.com and gave the company a “buy” rating in a report on Tuesday, June 11th. Morgan Stanley set a $178.00 price target on shares of salesforce.com and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. restated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a report on Monday, June 3rd. Finally, Compass Point began coverage on shares of salesforce.com in a report on Tuesday. They set a “buy” rating and a $190.00 price target on the stock. Four 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $180.00.
In other salesforce.com news, insider Parker Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $156.09, for a total value of $96,775.80. Following the sale, the insider now directly owns 30,281 shares in the company, valued at approximately $4,726,561.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. The disclosure for this sale can be found here. Insiders sold a total of 309,671 shares of company stock worth $47,578,569 over the last 90 days. Company insiders own 5.50% of the company’s stock.
NYSE CRM traded up $3.20 during midday trading on Thursday, hitting $142.92. The company had a trading volume of 3,594,857 shares, compared to its average volume of 7,468,685. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $109.20 billion, a PE ratio of 98.57, a price-to-earnings-growth ratio of 5.17 and a beta of 1.27. The stock has a fifty day moving average of $152.66. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.32. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. As a group, research analysts anticipate 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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