Kornitzer Capital Management Inc. KS maintained its position in shares of Salesforce.com Inc. (NYSE:CRM) during the second quarter, Holdings Channel reports. The institutional investor owned 168,316 shares of the CRM provider’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Salesforce.com were worth $13,366,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Trust Co. of Vermont raised 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 worth $154,000 after buying an additional 1,071 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Salesforce.com by 5.1% in the second quarter. Advisory Services Network LLC now owns 2,206 shares of the CRM provider’s stock worth $175,000 after buying an additional 107 shares during the period. Savant Capital LLC bought a new stake in shares of Salesforce.com during the second quarter worth $200,000. Private Bank & Trust Co. bought a new stake in shares of Salesforce.com during the second quarter worth $201,000. Finally, Osborn Rohs Williams & Donohoe Ltd bought a new stake in shares of Salesforce.com during the second quarter worth $206,000. Institutional investors own 87.23% of the company’s stock.
Shares of Salesforce.com Inc. (NYSE:CRM) traded up 6.0688% during trading on Friday, reaching $74.9164. The company’s stock had a trading volume of 22,947,594 shares. The firm has a market cap of $51.32 billion, a P/E ratio of 231.2234 and a beta of 1.59. The stock’s 50 day moving average is $73.77 and its 200 day moving average is $77.67. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s 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 EPS for the current fiscal year.
A number of brokerages have weighed in on CRM. Morgan Stanley reduced their price target on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Cowen and Company began coverage on shares of Salesforce.com in a report on Friday, June 24th. They issued an “outperform” rating and a $79.39 price target for the company. Jefferies Group reissued a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a report on Tuesday, July 12th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $100.00 price target on shares of Salesforce.com in a report on Monday, August 15th. Finally, Mizuho reissued an “outperform” rating and issued a $100.00 price target on shares of Salesforce.com in a report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-five have given a buy rating to the stock. Salesforce.com has an average rating of “Buy” and a consensus target price of $92.51.
In related news, insider Alexandre Dayon sold 2,158 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $73.82, for a total value of $159,303.56. Following the sale, the insider now directly owns 17,454 shares of the company’s stock, valued at $1,288,454.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Keith Block sold 10,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $82.68, for a total value of $826,800.00. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at $826,800. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce.com Inc. (NYSE:CRM).
Receive News & Ratings for Salesforce.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.