Candriam Luxembourg S.C.A. raised its stake in Salesforce.com Inc. (NYSE:CRM) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,909 shares of the CRM provider’s stock after buying an additional 39 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Salesforce.com were worth $4,599,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. TIAA CREF Investment Management LLC increased its stake in shares of Salesforce.com by 3.0% in the first quarter. TIAA CREF Investment Management LLC now owns 9,129,463 shares of the CRM provider’s stock valued at $674,028,000 after buying an additional 264,783 shares in the last quarter. Soroban Capital Partners LP acquired a new stake in shares of Salesforce.com during the first quarter valued at $290,380,000. Teachers Advisors Inc. increased its stake in shares of Salesforce.com by 4.4% in the first quarter. Teachers Advisors Inc. now owns 2,664,558 shares of the CRM provider’s stock valued at $196,724,000 after buying an additional 112,120 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Salesforce.com by 4.3% in the first quarter. Legal & General Group Plc now owns 2,466,990 shares of the CRM provider’s stock valued at $182,138,000 after buying an additional 101,277 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Salesforce.com by 1.7% in the first quarter. 1832 Asset Management L.P. now owns 1,829,100 shares of the CRM provider’s stock valued at $224,248,000 after buying an additional 30,600 shares in the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) traded down 0.59% on Thursday, hitting $71.20. The company’s stock had a trading volume of 5,323,376 shares. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The firm has a market cap of $48.77 billion, a price-to-earnings ratio of 219.75 and a beta of 1.57. The firm has a 50 day moving average of $75.72 and a 200 day moving average of $77.77.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
CRM has been the subject of several recent analyst reports. Vetr upgraded Salesforce.com from a “strong sell” rating to a “hold” rating and set a $82.92 price objective for the company in a research report on Wednesday, June 1st. Morgan Stanley restated an “overweight” rating and set a $107.00 price objective on shares of Salesforce.com in a research report on Monday. DA Davidson restated a “neutral” rating and set a $86.00 price objective on shares of Salesforce.com in a research report on Wednesday, August 31st. Royal Bank Of Canada dropped their price objective on Salesforce.com from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. Finally, BMO Capital Markets began coverage on Salesforce.com in a research report on Tuesday, June 14th. They set an “outperform” rating and a $98.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and forty-two have given a buy rating to the stock. Salesforce.com currently has an average rating of “Buy” and a consensus price target of $92.63.
In other news, insider Parker Harris sold 5,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $70.13, for a total transaction of $350,650.00. Following the completion of the sale, the insider now owns 39,467 shares of the company’s stock, valued at $2,767,820.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amy E. Weaver sold 9,381 shares of Salesforce.com stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $80.04, for a total transaction of $750,855.24. Following the sale, the executive vice president now directly owns 19,910 shares of the company’s stock, valued at approximately $1,593,596.40. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
Salesforce.com Company Profile
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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