Sand Hill Global Advisors LLC boosted its stake in shares of Salesforce.com Inc (NYSE:CRM) by 0.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,374 shares of the CRM provider’s stock after purchasing an additional 23 shares during the period. Sand Hill Global Advisors LLC’s holdings in Salesforce.com were worth $4,449,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new position in Salesforce.com during the second quarter valued at $2,055,000. Edgestream Partners L.P. lifted its position in Salesforce.com by 418.8% during the second quarter. Edgestream Partners L.P. now owns 22,156 shares of the CRM provider’s stock valued at $1,919,000 after purchasing an additional 17,885 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Salesforce.com by 386.9% during the second quarter. Commonwealth Bank of Australia now owns 8,160 shares of the CRM provider’s stock valued at $705,000 after purchasing an additional 6,484 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in Salesforce.com during the second quarter valued at $1,556,000. Finally, Fiduciary Trust Co. purchased a new position in Salesforce.com during the second quarter valued at $187,000. Institutional investors own 86.98% of the company’s stock.
In other news, CFO Mark J. Hawkins sold 8,624 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $89.17, for a total value of $769,002.08. Following the sale, the chief financial officer now directly owns 22,584 shares in the company, valued at $2,013,815.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $86.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief executive officer now owns 34,195,300 shares in the company, valued at $2,940,795,800. The disclosure for this sale can be found here. Insiders have sold 677,159 shares of company stock worth $61,111,134 over the last 90 days. 6.70% of the stock is currently owned by company insiders.
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Shares of Salesforce.com Inc (NYSE CRM) traded down 1.0702% on Friday, reaching $94.2801. 1,935,810 shares of the company were exchanged. The company’s market capitalization is $67.76 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 $92.74 and a 200-day moving average of $87.94.
Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, analysts predict that Salesforce.com Inc will post $1.32 EPS for the current fiscal year.
Several brokerages have recently commented on CRM. Northland Securities set a $105.00 price objective on Salesforce.com and gave the company a “buy” rating in a research report on Saturday, June 24th. MKM Partners restated a “buy” rating and issued a $104.00 price objective (up from $98.00) on shares of Salesforce.com in a research report on Friday, May 19th. Jefferies Group LLC restated a “hold” rating and issued a $80.00 price objective on shares of Salesforce.com in a research report on Monday, May 22nd. BTIG Research reiterated a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Monday, May 22nd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Salesforce.com 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. Salesforce.com has an average rating of “Buy” and an average target price of $102.28.
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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