Tocqueville Asset Management L.P. raised its stake in Salesforce.com Inc. (NYSE:CRM) by 3.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,275 shares of the CRM provider’s stock after buying an additional 5,395 shares during the period. Tocqueville Asset Management L.P.’s holdings in Salesforce.com were worth $12,251,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Hollencrest Securities LLC boosted its stake in Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake 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 in the last quarter. Fulton Bank N.A. boosted its stake in Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in Salesforce.com by 0.4% in the second quarter. LS Investment Advisors LLC now owns 11,309 shares of the CRM provider’s stock valued at $898,000 after buying an additional 49 shares in the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.
Shares of Salesforce.com Inc. (NYSE:CRM) traded up 5.97% on Friday, hitting $74.85. The stock had a trading volume of 20,535,746 shares. The firm has a market cap of $51.27 billion, a P/E ratio of 231.02 and a beta of 1.59. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The firm’s 50-day moving average price is $73.77 and its 200 day moving average price is $77.67.
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 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 had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. Analysts anticipate that Salesforce.com Inc. will post $0.95 EPS for the current fiscal year.
Several research firms recently commented on CRM. Raymond James Financial Inc. set a $105.00 target price on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. FBN Securities set a $90.00 target price on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. DA Davidson set a $86.00 price objective on Salesforce.com and gave the company a “hold” rating in a research note on Sunday, September 11th. Vetr cut Salesforce.com from a “buy” rating to a “hold” rating and set a $83.58 price objective for the company. in a research note on Monday, July 11th. Finally, Stephens began coverage on Salesforce.com in a research note on Tuesday, August 2nd. They issued an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have assigned a buy rating to the stock. Salesforce.com presently has a consensus rating of “Buy” and an average price target of $92.51.
In other Salesforce.com news, CEO Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $67.76, for a total value of $847,000.00. Following the completion of the transaction, the chief executive officer now owns 35,033,000 shares in the company, valued at $2,373,836,080. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan Wojcicki acquired 1,356 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was purchased at an average price of $73.71 per share, with a total value of $99,950.76. Following the transaction, the director now owns 14,147 shares of the company’s stock, valued at approximately $1,042,775.37. The disclosure for this purchase can be found here. 6.70% of the stock is currently owned by company 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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