Barings LLC maintained its stake in shares of Salesforce.com Inc (NYSE:CRM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,464 shares of the CRM provider’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Salesforce.com were worth $2,101,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Capital Analysts LLC increased its holdings in Salesforce.com by 14.1% in the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after acquiring an additional 156 shares in the last quarter. Peddock Capital Advisors LLC increased its holdings in Salesforce.com by 3,000.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after acquiring an additional 1,350 shares in the last quarter. People s United Financial Inc. increased its holdings in Salesforce.com by 60.1% in the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after acquiring an additional 550 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Salesforce.com in the 2nd quarter worth $130,000. Finally, Harfst & Associates Inc. purchased a new stake in Salesforce.com in the 1st quarter worth $141,000. 86.06% of the stock is owned by institutional investors.
In related news, insider Parker Harris sold 8,026 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $94.92, for a total transaction of $761,827.92. Following the completion of the transaction, the insider now owns 19,261 shares in the company, valued at approximately $1,828,254.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Keith Block sold 7,641 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $95.85, for a total value of $732,389.85. Following the transaction, the insider now owns 14,718 shares of the company’s stock, valued at approximately $1,410,720.30. The disclosure for this sale can be found here. Insiders have sold a total of 536,343 shares of company stock valued at $49,439,541 in the last 90 days. Insiders own 6.20% of the company’s stock.
CRM has been the subject of several recent analyst reports. Vetr raised shares of Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 price target for the company in a report on Monday, June 12th. BidaskClub lowered shares of Salesforce.com from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a report on Friday, June 16th. Northland Securities set a $105.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a report on Saturday, June 24th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Salesforce.com in a report on Monday, June 26th. They issued a “buy” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-five have given a buy rating to the company’s stock. Salesforce.com presently has an average rating of “Buy” and a consensus price target of $102.66.
Shares of Salesforce.com Inc (NYSE CRM) opened at 96.32 on Friday. The company’s 50 day moving average price is $94.65 and its 200 day moving average price is $89.26. The firm’s market capitalization is $69.23 billion. Salesforce.com Inc has a one year low of $66.43 and a one year high of $98.22.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, analysts expect that Salesforce.com Inc will post $1.32 EPS for the current fiscal year.
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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