Pitcairn Co. raised its stake in Salesforce.com Inc. (NYSE:CRM) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 63,433 shares of the CRM provider’s stock after buying an additional 3,200 shares during the period. Salesforce.com accounts for approximately 0.6% of Pitcairn Co.’s portfolio, making the stock its 15th largest position. Pitcairn Co.’s holdings in Salesforce.com were worth $5,037,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the company. Hollencrest Securities LLC increased its position 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 during the last quarter. Cornerstone Advisors Inc. increased its position 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 during the last quarter. Integrated Investment Consultants LLC increased 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 last quarter. Fulton Bank N.A. increased its position 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 during the last quarter. Finally, LS Investment Advisors LLC increased its position 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 during the last quarter. 87.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Salesforce.com Inc. (NYSE:CRM) traded down 0.40% on Monday, hitting $73.00. 3,881,760 shares of the company’s stock were exchanged. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The stock’s 50 day moving average is $77.76 and its 200 day moving average is $77.80. The firm has a market cap of $50.01 billion, a P/E ratio of 225.31 and a beta of 1.57.

Salesforce.com (NYSE:CRM) last posted 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. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm posted $0.19 earnings per share. Salesforce.com’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts predict that Salesforce.com Inc. will post $0.95 earnings per share for the current year.

Several equities analysts have commented on the stock. Roth Capital reissued a “buy” rating on shares of Salesforce.com in a research report on Sunday, May 22nd. Piper Jaffray Cos. reissued a “buy” rating on shares of Salesforce.com in a research report on Sunday, May 22nd. Raymond James Financial Inc. set a $105.00 target price on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Sunday, September 4th. FBN Securities set a $90.00 price target on Salesforce.com and gave the company a “buy” rating in a research report on Sunday, September 4th. Finally, DA Davidson set a $86.00 price target on Salesforce.com and gave the company a “hold” rating in a research report on Sunday, September 11th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-one have assigned a buy rating to the stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus price target of $92.63.

In other Salesforce.com news, CEO Marc Benioff sold 50,000 shares of Salesforce.com stock in a transaction on 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 completion of the transaction, the chief executive officer now directly 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 can be accessed through this link. Also, insider Keith Block sold 10,000 shares of Salesforce.com stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $82.68, for a total transaction of $826,800.00. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $826,800. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate 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.

5 Day Chart for NYSE:CRM

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