Matrix Capital Management Company LP acquired a new stake in Salesforce.com Inc (NYSE:CRM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,000,000 shares of the CRM provider’s stock, valued at approximately $86,600,000. Salesforce.com accounts for 2.9% of Matrix Capital Management Company LP’s holdings, making the stock its 14th biggest holding. Matrix Capital Management Company LP owned 0.14% of Salesforce.com at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Salesforce.com by 5.1% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,667 shares of the CRM provider’s stock worth $385,000 after purchasing an additional 226 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Salesforce.com by 2.7% during the 1st quarter. Arizona State Retirement System now owns 162,156 shares of the CRM provider’s stock worth $13,376,000 after purchasing an additional 4,300 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Salesforce.com by 53.1% during the 1st quarter. William Blair Investment Management LLC now owns 334,891 shares of the CRM provider’s stock worth $27,625,000 after purchasing an additional 116,172 shares during the last quarter. American International Group Inc. increased its stake in shares of Salesforce.com by 2.3% during the 1st quarter. American International Group Inc. now owns 242,468 shares of the CRM provider’s stock worth $20,001,000 after purchasing an additional 5,419 shares during the last quarter. Finally, ProVise Management Group LLC increased its stake in shares of Salesforce.com by 11.6% during the 1st quarter. ProVise Management Group LLC now owns 4,630 shares of the CRM provider’s stock worth $382,000 after purchasing an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

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In other Salesforce.com news, Director Craig Conway sold 602 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $94.76, for a total value of $57,045.52. Following the sale, the director now directly owns 9,908 shares of the company’s stock, valued at $938,882.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $88.22, for a total value of $882,200.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares in the company, valued at $3,016,709,366. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 536,343 shares of company stock worth $49,439,541. 6.20% of the stock is owned by insiders.

CRM has been the topic of several analyst reports. J P Morgan Chase & Co restated a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research note on Wednesday, August 23rd. Drexel Hamilton reaffirmed a “buy” rating and set a $111.00 price objective on shares of Salesforce.com in a report on Wednesday, August 23rd. SunTrust Banks, Inc. assumed coverage on shares of Salesforce.com in a report on Monday, June 26th. They set a “buy” rating and a $110.00 price objective for the company. Vetr downgraded shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price objective for the company. in a report on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price objective (down from $95.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $102.66.

Salesforce.com Inc (NYSE:CRM) traded up 0.62% during trading on Friday, hitting $96.32. The company’s stock had a trading volume of 4,402,892 shares. The firm’s market cap is $69.23 billion. The firm has a 50 day moving average of $94.65 and a 200 day moving average of $89.26. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $98.22.

Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 25.7% compared to the same quarter last year. Equities research analysts predict that Salesforce.com Inc will post $1.32 earnings per share for the current year.

Salesforce.com Company Profile

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

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