Oakmont Partners LLC boosted its position in Salesforce.com Inc (NYSE:CRM) by 49.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,584 shares of the CRM provider’s stock after buying an additional 6,180 shares during the period. Salesforce.com comprises approximately 0.9% of Oakmont Partners LLC’s investment portfolio, making the stock its 27th largest position. Oakmont Partners LLC’s holdings in Salesforce.com were worth $1,609,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of CRM. First Personal Financial Services increased its stake in Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after buying an additional 112 shares in the last quarter. Dubuque Bank & Trust Co. increased its stake in Salesforce.com by 387.1% in the first quarter. Dubuque Bank & Trust Co. now owns 1,622 shares of the CRM provider’s stock worth $134,000 after buying an additional 1,289 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in Salesforce.com during the first quarter worth approximately $141,000. Acrospire Investment Management LLC increased its stake in Salesforce.com by 35.7% in the first quarter. Acrospire Investment Management LLC now owns 1,900 shares of the CRM provider’s stock worth $157,000 after buying an additional 500 shares in the last quarter. Finally, Pinnacle Bank purchased a new stake in Salesforce.com during the first quarter worth approximately $181,000. 85.87% of the stock is currently owned by institutional investors.
Shares of Salesforce.com Inc (NYSE:CRM) traded down 0.27% on Tuesday, reaching $90.26. The company’s stock had a trading volume of 2,366,716 shares. The firm has a 50 day moving average of $88.60 and a 200 day moving average of $85.06. The company has a market cap of $64.28 billion, a PE ratio of 477.57 and a beta of 1.29. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $92.13.
Salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Analysts predict that Salesforce.com Inc will post $1.30 earnings per share for the current year.
A number of equities research analysts have recently issued reports on CRM shares. Northland Securities set a $105.00 target price on Salesforce.com and gave the stock a “buy” rating in a research report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $102.00 target price on shares of Salesforce.com in a research report on Monday, July 31st. Credit Suisse Group started coverage on Salesforce.com in a research report on Tuesday, August 1st. They set an “outperform” rating and a $110.00 target price on the stock. BidaskClub lowered Salesforce.com from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 target price on shares of Salesforce.com in a research report on Monday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and forty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $97.41.
In other news, insider Joe Allanson sold 279 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $90.77, for a total transaction of $25,324.83. Following the transaction, the insider now owns 28,753 shares in the company, valued at $2,609,909.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Hawkins sold 490 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $88.65, for a total transaction of $43,438.50. Following the transaction, the chief financial officer now owns 13,076 shares in the company, valued at approximately $1,159,187.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,418,005 shares of company stock worth $127,427,385. 6.70% of the stock is currently owned by insiders.
Salesforce.com Company Profile
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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