Salesforce.com Inc (CRM) Position Reduced by Sigma Planning Corp
Sigma Planning Corp reduced its position in shares of Salesforce.com Inc (NYSE:CRM) by 14.0% during the second quarter, Holdings Channel reports. The firm owned 4,358 shares of the CRM provider’s stock after selling 710 shares during the period. Sigma Planning Corp’s holdings in Salesforce.com were worth $377,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CRM. KBC Group NV raised its position in Salesforce.com by 16.9% in the first quarter. KBC Group NV now owns 521,167 shares of the CRM provider’s stock worth $42,991,000 after buying an additional 75,430 shares during the period. Gilbert & Cook Inc. purchased a new position in Salesforce.com during the second quarter worth approximately $251,000. Compton Capital Management Inc. RI purchased a new position in Salesforce.com during the first quarter worth approximately $436,000. Shell Asset Management Co. raised its position in Salesforce.com by 0.7% in the first quarter. Shell Asset Management Co. now owns 72,793 shares of the CRM provider’s stock worth $6,005,000 after buying an additional 497 shares during the period. Finally, 1st Global Advisors Inc. raised its position in Salesforce.com by 35.1% in the first quarter. 1st Global Advisors Inc. now owns 15,029 shares of the CRM provider’s stock worth $1,240,000 after buying an additional 3,903 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Shares of Salesforce.com Inc (NYSE CRM) opened at 90.70 on Wednesday. The stock’s 50 day moving average is $89.30 and its 200-day moving average is $85.95. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $92.13. The firm has a market cap of $64.60 billion, a PE ratio of 479.89 and a beta of 1.29. Salesforce.com also was the recipient of unusually large options trading activity on Monday. Traders purchased 11,294 call options on the stock. This represents an increase of approximately 150% compared to the typical volume of 4,516 call options.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Analysts expect that Salesforce.com Inc will post $1.30 earnings per share for the current year.
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CRM has been the topic of a number of recent analyst reports. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price target on the stock in a research report on Monday, May 15th. Zacks Investment Research lowered shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Credit Suisse Group initiated coverage on shares of Salesforce.com in a research report on Thursday, April 27th. They issued an “outperform” rating and a $110.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $102.00 price target on shares of Salesforce.com in a research report on Monday, July 31st. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Sunday, May 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $97.31.
In other Salesforce.com news, EVP Burke F. Norton sold 379,189 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $91.37, for a total transaction of $34,646,498.93. Following the sale, the executive vice president now directly owns 82,843 shares of the company’s stock, valued at $7,569,364.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $87.79, for a total transaction of $877,900.00. Following the sale, the chairman now directly owns 34,195,300 shares in the company, valued at $3,002,005,387. The disclosure for this sale can be found here. Insiders sold a total of 1,353,386 shares of company stock worth $121,719,059 over the last three months. 6.70% of the stock is owned by insiders.
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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