Schwab Charles Investment Management Inc. raised its position in shares of Salesforce.com Inc (NYSE:CRM) by 6.6% during the second quarter, Holdings Channel reports. The fund owned 2,113,950 shares of the CRM provider’s stock after buying an additional 130,331 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Salesforce.com were worth $183,069,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares during the last quarter. Janus Capital Management LLC raised its stake in Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after buying an additional 1,910,921 shares during the last quarter. Baillie Gifford & Co. raised its stake in Salesforce.com by 1.0% in the first quarter. Baillie Gifford & Co. now owns 6,989,546 shares of the CRM provider’s stock worth $576,567,000 after buying an additional 70,214 shares during the last quarter. Geode Capital Management LLC raised its stake in Salesforce.com by 11.2% in the first quarter. Geode Capital Management LLC now owns 5,793,802 shares of the CRM provider’s stock worth $477,183,000 after buying an additional 583,131 shares during the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in Salesforce.com by 4.8% in the first quarter. Sustainable Growth Advisers LP now owns 2,934,443 shares of the CRM provider’s stock worth $242,062,000 after buying an additional 133,866 shares during the last quarter. Institutional investors own 85.87% of the company’s stock.

Shares of Salesforce.com Inc (NYSE:CRM) opened at 87.63 on Friday. The company has a 50 day moving average of $89.19 and a 200-day moving average of $85.57. The firm has a market cap of $62.41 billion, a price-to-earnings ratio of 463.65 and a beta of 1.29. Salesforce.com Inc has a one year low of $66.43 and a one year high of $92.13.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $2.39 billion during 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 revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, analysts expect that Salesforce.com Inc will post $1.30 EPS for the current year.

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CRM has been the topic of a number of research reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and issued a $100.00 price target (up from $95.00) on shares of Salesforce.com in a research note on Friday, May 19th. Zacks Investment Research downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. SunTrust Banks, Inc. initiated coverage on shares of Salesforce.com in a research note on Monday, June 26th. They issued a “buy” rating and a $110.00 price target on the stock. Vetr downgraded shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price target on the stock. in a research note on Tuesday, July 11th. Finally, ValuEngine raised shares of Salesforce.com from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have issued a buy rating to the stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $97.31.

In other Salesforce.com news, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $89.79, for a total value of $720,744.33. Following the completion of the transaction, the insider now directly owns 48,254 shares in the company, valued at approximately $4,332,726.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $89.63, for a total transaction of $896,300.00. Following the completion of the transaction, the chairman now owns 34,195,300 shares of the company’s stock, valued at $3,064,924,739. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,396,066 shares of company stock valued at $125,528,615. Corporate insiders own 6.70% of the company’s stock.

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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