Sandy Spring Bank boosted its position in shares of salesforce.com, inc. (NYSE:CRM) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,318 shares of the CRM provider’s stock after purchasing an additional 2,705 shares during the period. Sandy Spring Bank’s holdings in salesforce.com were worth $6,876,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Asset Dedication LLC grew its holdings in salesforce.com by 45.3% during the 1st quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock valued at $35,000 after purchasing an additional 68 shares during the last quarter. Arcadia Investment Management Corp MI grew its holdings in salesforce.com by 63.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Fagan Associates Inc. boosted its position in salesforce.com by 1.2% in the 1st quarter. Fagan Associates Inc. now owns 5,760 shares of the CRM provider’s stock valued at $912,000 after buying an additional 70 shares during the period. Savant Capital LLC boosted its position in salesforce.com by 2.3% in the 1st quarter. Savant Capital LLC now owns 3,123 shares of the CRM provider’s stock valued at $495,000 after buying an additional 70 shares during the period. Finally, Allred Capital Management LLC boosted its position in salesforce.com by 1.6% in the 2nd quarter. Allred Capital Management LLC now owns 4,494 shares of the CRM provider’s stock valued at $692,000 after buying an additional 71 shares during the period. Institutional investors own 82.05% of the company’s stock.

In related news, General Counsel Amy E. Weaver sold 501 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $153.54, for a total transaction of $76,923.54. Following the completion of the sale, the general counsel now owns 26,396 shares of the company’s stock, valued at $4,052,841.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Joe Allanson sold 168 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $153.88, for a total transaction of $25,851.84. Following the sale, the chief accounting officer now directly owns 30,641 shares of the company’s stock, valued at approximately $4,715,037.08. The disclosure for this sale can be found here. Insiders sold a total of 309,671 shares of company stock valued at $47,578,569 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Shares of CRM traded down $1.76 during mid-day trading on Wednesday, hitting $138.96. The company’s stock had a trading volume of 1,874,068 shares, compared to its average volume of 5,914,693. The company has a 50-day moving average price of $152.88. salesforce.com, inc. has a 52-week low of $113.60 and a 52-week high of $167.56. The company has a market cap of $111.26 billion, a price-to-earnings ratio of 95.83, a price-to-earnings-growth ratio of 5.27 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue was up 24.3% compared to the same quarter last year. Research analysts expect that salesforce.com, inc. will post 1.25 EPS for the current year.

CRM has been the subject of several research reports. Compass Point initiated coverage on shares of salesforce.com in a research report on Tuesday. They issued a “buy” rating and a $190.00 price objective for the company. Evercore ISI set a $190.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research report on Wednesday, August 7th. Credit Suisse Group reissued an “outperform” rating on shares of salesforce.com in a research report on Thursday, June 6th. Wedbush reissued an “outperform” rating and issued a $192.00 price objective on shares of salesforce.com in a research report on Friday, May 31st. Finally, Nomura reissued a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $180.00.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

See Also: Cost of Goods Sold (COGS)

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

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