Kelly Lawrence W & Associates Inc. CA reduced its holdings in salesforce.com, inc. (NYSE:CRM) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,105 shares of the CRM provider’s stock after selling 450 shares during the period. salesforce.com comprises about 1.5% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 26th largest holding. Kelly Lawrence W & Associates Inc. CA’s holdings in salesforce.com were worth $8,665,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. FMR LLC lifted its stake 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 acquiring an additional 698,321 shares in the last quarter. Vanguard Group Inc. lifted its stake in salesforce.com by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 58,771,856 shares of the CRM provider’s stock worth $8,917,454,000 after acquiring an additional 1,491,307 shares in the last quarter. BlackRock Inc. lifted its stake in salesforce.com by 4.7% in the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock worth $8,521,967,000 after acquiring an additional 2,499,996 shares in the last quarter. Jennison Associates LLC lifted its stake in salesforce.com by 8.4% in the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock worth $3,273,645,000 after acquiring an additional 1,673,392 shares in the last quarter. Finally, Janus Henderson Group PLC lifted 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 acquiring an additional 1,516,132 shares in the last quarter. 73.65% of the stock is owned by hedge funds and other institutional investors.
Shares of CRM stock traded down $0.72 during mid-day trading on Wednesday, reaching $152.10. The stock had a trading volume of 87,067 shares, compared to its average volume of 6,787,203. The firm’s 50 day simple moving average is $149.38 and its 200 day simple moving average is $155.41. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56. The firm has a market cap of $134.16 billion, a PE ratio of 104.81, a P/E/G ratio of 5.64 and a beta of 1.24.
salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.57. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. salesforce.com’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. Sell-side analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.
CRM has been the subject of several research analyst reports. Compass Point set a $193.00 price objective on salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and issued a $184.00 target price (down from $192.00) on shares of salesforce.com in a research report on Tuesday, August 20th. Nomura upped their target price on salesforce.com from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Macquarie upped their target price on salesforce.com from $184.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Evercore ISI set a $190.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $183.82.
In related news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $158.94, for a total transaction of $794,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amy E. Weaver sold 335 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $153.88, for a total value of $51,549.80. Following the transaction, the insider now owns 27,383 shares of the company’s stock, valued at approximately $4,213,696.04. The disclosure for this sale can be found here. Insiders have sold a total of 302,390 shares of company stock valued at $46,062,200 in the last 90 days. 5.50% of the stock is owned by corporate insiders.
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.
Featured Article: 12b-1 Fees
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.