First Midwest Bank Trust Division cut its stake in Salesforce.com Inc. (NYSE:CRM) by 16.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,867 shares of the CRM provider’s stock after selling 550 shares during the period. First Midwest Bank Trust Division’s holdings in Salesforce.com were worth $228,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CRM. Trust Co. of Vermont boosted its position in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. Private Bank & Trust Co. bought a new position in Salesforce.com during the second quarter valued at $201,000. Osborn Rohs Williams & Donohoe Ltd bought a new position in Salesforce.com during the second quarter valued at $206,000. Wealthsource Partners LLC bought a new position in Salesforce.com during the first quarter valued at $209,000. Finally, Integrated Investment Consultants LLC boosted its position in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) traded down 0.49% on Friday, reaching $70.91. 6,707,404 shares of the company traded hands. The company has a market capitalization of $48.57 billion, a PE ratio of 218.86 and a beta of 1.59. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The stock’s 50 day moving average price is $74.35 and its 200 day moving average price is $77.70.
Salesforce.com (NYSE:CRM) last posted 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 company earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business posted $0.19 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts predict that Salesforce.com Inc. will post $0.95 EPS for the current fiscal year.
Several research analysts recently weighed in on CRM shares. SunTrust Banks Inc. restated a “buy” rating and issued a $98.00 price objective on shares of Salesforce.com in a research report on Tuesday, June 14th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Salesforce.com in a research report on Monday, June 13th. Brean Capital reiterated a “buy” rating and set a $110.00 target price on shares of Salesforce.com in a research report on Saturday, June 25th. Vetr cut shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 target price for the company. in a research report on Monday, July 4th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Salesforce.com in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $92.56.
In other Salesforce.com news, insider Keith Block sold 10,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $82.68, for a total value of $826,800.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $826,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wojcicki acquired 1,356 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was bought at an average price of $73.71 per share, with a total value of $99,950.76. Following the completion of the acquisition, the director now directly owns 14,147 shares in the company, valued at approximately $1,042,775.37. The disclosure for this purchase can be found here. Corporate insiders own 6.70% of the company’s stock.
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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