Diversified Trust Co lowered its position in shares of Salesforce.com Inc. (NYSE:CRM) by 11.6% during the second quarter, Holdings Channel reports. The institutional investor owned 46,315 shares of the CRM provider’s stock after selling 6,095 shares during the period. Diversified Trust Co’s holdings in Salesforce.com were worth $3,678,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hollencrest Securities LLC increased its position in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock worth $256,000 after buying an additional 29 shares during the period. Cornerstone Advisors Inc. increased its position in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock worth $282,000 after buying an additional 35 shares during the period. Integrated Investment Consultants LLC increased its position in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares during the period. Fulton Bank N.A. increased its position in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock worth $1,014,000 after buying an additional 38 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of Salesforce.com by 0.4% in the second quarter. LS Investment Advisors LLC now owns 11,309 shares of the CRM provider’s stock worth $898,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
Shares of Salesforce.com Inc. (NYSE:CRM) traded up 0.55% during midday trading on Thursday, reaching $74.59. 5,155,738 shares of the company traded hands. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48. The company has a 50-day moving average of $77.26 and a 200 day moving average of $77.79. The firm has a market capitalization of $51.09 billion, a PE ratio of 230.22 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the 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 had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
A number of analysts have weighed in on CRM shares. Morgan Stanley reduced their price target on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Monday, August 15th. Mizuho boosted their price target on Salesforce.com from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Wedbush reaffirmed an “outperform” rating and issued a $98.00 price target (up previously from $96.00) on shares of Salesforce.com in a research report on Friday, August 26th. Finally, Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price target for the company in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and forty-one have issued a buy rating to the company’s stock. Salesforce.com has a consensus rating of “Buy” and an average price target of $92.63.
In other news, CEO Marc Benioff sold 37,500 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $79.09, for a total transaction of $2,965,875.00. Following the completion of the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at $2,798,441,470. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Craig Conway sold 400 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $81.86, for a total transaction of $32,744.00. Following the sale, the director now directly owns 9,268 shares of the company’s stock, valued at $758,678.48. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
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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