Sandy Spring Bank Has $2.30 Million Holdings in Salesforce.com Inc (CRM)

Sandy Spring Bank raised its stake in Salesforce.com Inc (NYSE:CRM) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,512 shares of the CRM provider’s stock after buying an additional 1,640 shares during the quarter. Sandy Spring Bank’s holdings in Salesforce.com were worth $2,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its position in shares of Salesforce.com by 0.6% during the second quarter. Thompson Davis & CO. Inc. now owns 3,163 shares of the CRM provider’s stock worth $274,000 after purchasing an additional 18 shares during the period. First Personal Financial Services raised its position in shares of Salesforce.com by 1.6% during the second quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock worth $142,000 after purchasing an additional 25 shares during the period. Appropriate Balance Financial Services Inc. raised its position in shares of Salesforce.com by 6.9% during the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock worth $5,928,000 after purchasing an additional 33 shares during the period. Boston Private Wealth LLC raised its position in shares of Salesforce.com by 0.3% during the second quarter. Boston Private Wealth LLC now owns 12,607 shares of the CRM provider’s stock worth $1,092,000 after purchasing an additional 38 shares during the period. Finally, King Luther Capital Management Corp raised its position in shares of Salesforce.com by 1.3% during the first quarter. King Luther Capital Management Corp now owns 3,233 shares of the CRM provider’s stock worth $267,000 after purchasing an additional 43 shares during the period. 86.98% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce.com Inc (NYSE CRM) traded down 0.70% during midday trading on Friday, hitting $94.63. The company’s stock had a trading volume of 6,081,706 shares. The company’s market cap is $68.01 billion. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $98.22. The stock has a 50 day moving average of $92.86 and a 200 day moving average of $88.04.

Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, equities analysts expect that Salesforce.com Inc will post $1.32 EPS for the current year.

In related news, Chairman Marc Benioff sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $86.81, for a total value of $1,736,200.00. Following the sale, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at $2,968,493,993. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $87.27, for a total value of $700,516.29. Following the completion of the sale, the insider now directly owns 49,913 shares in the company, valued at $4,355,907.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 677,159 shares of company stock worth $61,111,134. Company insiders own 6.70% of the company’s stock.

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A number of equities research analysts have recently commented on the company. Vetr lowered Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price target on the stock. in a research report on Tuesday, August 15th. Northland Securities set a $105.00 price target on Salesforce.com and gave the stock a “buy” rating in a research report on Saturday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Finally, Jefferies Group LLC set a $84.00 price target on Salesforce.com and gave the stock a “hold” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and forty-seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $102.28.

About Salesforce.com

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.

Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

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