Salesforce.com Inc. (CRM) Shares Bought by Investment House LLC
Investment House LLC increased its stake in Salesforce.com Inc. (NYSE:CRM) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 46,855 shares of the CRM provider’s stock after buying an additional 1,380 shares during the period. Investment House LLC’s holdings in Salesforce.com were worth $3,721,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Soroban Capital Partners LP bought a new position in Salesforce.com during the first quarter valued at $290,380,000. Tybourne Capital Management HK Ltd. acquired a new stake in shares of Salesforce.com during the first quarter valued at approximately $72,518,000. AMF Pensionsforsakring AB boosted its stake in shares of Salesforce.com by 488.5% in the first quarter. AMF Pensionsforsakring AB now owns 602,629 shares of the CRM provider’s stock valued at $44,492,000 after buying an additional 500,229 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Salesforce.com during the second quarter valued at approximately $31,592,000. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Salesforce.com by 3.0% in the first quarter. TIAA CREF Investment Management LLC now owns 9,129,463 shares of the CRM provider’s stock valued at $674,028,000 after buying an additional 264,783 shares during the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
Shares of Salesforce.com Inc. (NYSE:CRM) traded down 0.12% during trading on Tuesday, reaching $72.91. 4,833,461 shares of the company were exchanged. The stock has a 50-day moving average price of $77.53 and a 200-day moving average price of $77.82. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The stock has a market capitalization of $49.94 billion, a PE ratio of 225.03 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The business earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 EPS. Analysts forecast that Salesforce.com Inc. will post $0.95 EPS for the current year.
Several analysts have commented on the stock. Morgan Stanley reiterated a “buy” rating on shares of Salesforce.com in a research report on Tuesday, May 31st. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a research report on Wednesday, June 1st. Brean Capital reiterated a “buy” rating on shares of Salesforce.com in a research report on Thursday, June 2nd. DA Davidson set a $86.00 target price on shares of Salesforce.com and gave the company a “hold” rating in a research report on Sunday, September 11th. Finally, FBN Securities set a $90.00 target price on shares of Salesforce.com and gave the company a “buy” rating in a research report on Sunday, September 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and forty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.63.
In other Salesforce.com news, insider Alexandre Dayon sold 2,158 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the completion of the transaction, the insider now directly owns 17,454 shares in the company, valued at approximately $1,288,454.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $81.25, for a total transaction of $2,031,250.00. Following the completion of the transaction, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at $2,874,868,750. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
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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