Whittier Trust Co. of Nevada Inc. increased its position in Salesforce.com Inc. (NYSE:CRM) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 20,955 shares of the CRM provider’s stock after buying an additional 18 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Salesforce.com were worth $1,664,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its position in shares of Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock worth $16,360,000 after buying an additional 2,648 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Salesforce.com during the second quarter worth about $31,592,000. Soroban Capital Partners LP bought a new position in shares of Salesforce.com during the first quarter worth about $290,380,000. Tybourne Capital Management HK Ltd. bought a new position in shares of Salesforce.com during the first quarter worth about $72,518,000. Finally, Thrax Management LLC boosted its position in shares of Salesforce.com by 42.5% in the first quarter. Thrax Management LLC now owns 401,562 shares of the CRM provider’s stock worth $29,647,000 after buying an additional 119,731 shares during the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.
Salesforce.com Inc. (NYSE:CRM) traded down 5.84% during midday trading on Wednesday, reaching $68.39. 44,080,331 shares of the company’s stock traded hands. Salesforce.com Inc. has a 52-week low of $52.60 and a 52-week high of $84.48. The firm’s 50-day moving average is $74.94 and its 200 day moving average is $77.82. The firm has a market cap of $46.85 billion, a PE ratio of 211.08 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Equities research analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on CRM shares. Vetr cut Salesforce.com from a “sell” rating to a “strong sell” rating and set a $70.42 target price for the company. in a report on Thursday, August 25th. JMP Securities restated a “buy” rating on shares of Salesforce.com in a research report on Tuesday. Barclays PLC restated an “overweight” rating and set a $89.00 price target on shares of Salesforce.com in a research report on Sunday. Jefferies Group restated a “hold” rating and set a $80.00 price target on shares of Salesforce.com in a research report on Thursday, September 1st. Finally, Bank of America Corp. restated a “buy” rating and set a $77.82 price target (down from $100.00) on shares of Salesforce.com in a research report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.33.
In related news, CEO Marc Benioff sold 50,000 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $79.15, for a total transaction of $3,957,500.00. Following the sale, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at $2,800,564,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Keith Block sold 40,000 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $81.00, for a total transaction of $3,240,000.00. Following the sale, the chief operating officer now directly owns 40,000 shares in the company, valued at approximately $3,240,000. 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.
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