Greenleaf Trust lowered its position in shares of Salesforce.com Inc (NYSE:CRM) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,545 shares of the CRM provider’s stock after selling 1,452 shares during the period. Greenleaf Trust’s holdings in Salesforce.com were worth $6,889,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CRM. Vanguard Group Inc. raised its stake in shares of Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares during the period. Janus Capital Management LLC raised its stake in shares of Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after buying an additional 1,910,921 shares during the period. Alliancebernstein L.P. raised its position in Salesforce.com by 34.8% in the first quarter. Alliancebernstein L.P. now owns 2,530,351 shares of the CRM provider’s stock valued at $208,729,000 after buying an additional 653,152 shares during the last quarter. Teachers Advisors LLC raised its position in Salesforce.com by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 2,653,210 shares of the CRM provider’s stock valued at $181,639,000 after buying an additional 633,760 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Salesforce.com by 11.2% in the first quarter. Geode Capital Management LLC now owns 5,793,802 shares of the CRM provider’s stock valued at $477,183,000 after buying an additional 583,131 shares during the last quarter. 85.87% of the stock is owned by institutional investors and hedge funds.
Shares of Salesforce.com Inc (NYSE:CRM) opened at 88.29 on Friday. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $92.13. The stock has a market capitalization of $62.88 billion, a PE ratio of 467.14 and a beta of 1.29. The stock’s 50 day moving average is $89.18 and its 200 day moving average is $85.65.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. Salesforce.com’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Analysts anticipate that Salesforce.com Inc will post $1.30 EPS for the current fiscal year.
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Several brokerages recently weighed in on CRM. Piper Jaffray Companies restated an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of Salesforce.com in a research note on Monday, June 5th. ValuEngine upgraded Salesforce.com from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Credit Suisse Group began coverage on Salesforce.com in a research note on Tuesday, August 1st. They set an “outperform” rating and a $110.00 target price on the stock. Royal Bank Of Canada restated a “buy” rating and set a $102.00 target price on shares of Salesforce.com in a research note on Monday, July 31st. Finally, Vetr downgraded Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 target price on the stock. in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $97.31.
In other news, EVP Burke F. Norton sold 379,189 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $91.37, for a total transaction of $34,646,498.93. Following the completion of the transaction, the executive vice president now directly owns 82,843 shares of the company’s stock, valued at approximately $7,569,364.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $90.29, for a total transaction of $724,757.83. Following the transaction, the insider now directly owns 49,913 shares of the company’s stock, valued at $4,506,644.77. The disclosure for this sale can be found here. Insiders have sold a total of 1,396,066 shares of company stock worth $125,528,615 in the last 90 days. 6.70% of the stock is owned by insiders.
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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