WASHINGTON TRUST Co Buys Shares of 2,960 Salesforce.com Inc (CRM)
WASHINGTON TRUST Co bought a new stake in Salesforce.com Inc (NYSE:CRM) during the second quarter, Holdings Channel reports. The fund bought 2,960 shares of the CRM provider’s stock, valued at approximately $256,000.
Several other large investors also recently bought and sold shares of CRM. Appropriate Balance Financial Services Inc. boosted its stake in Salesforce.com by 6.9% in the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares in the last quarter. Intrust Bank NA boosted its stake in Salesforce.com by 0.4% in the first quarter. Intrust Bank NA now owns 8,862 shares of the CRM provider’s stock valued at $731,000 after buying an additional 36 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Salesforce.com by 1.3% in the first quarter. King Luther Capital Management Corp now owns 3,233 shares of the CRM provider’s stock valued at $267,000 after buying an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC boosted its stake in Salesforce.com by 0.3% in the first quarter. Wellington Shields Capital Management LLC now owns 15,350 shares of the CRM provider’s stock valued at $1,266,000 after buying an additional 50 shares in the last quarter. Finally, Boltwood Capital Management boosted its stake in Salesforce.com by 0.4% in the second quarter. Boltwood Capital Management now owns 13,655 shares of the CRM provider’s stock valued at $1,182,000 after buying an additional 60 shares in the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.
Salesforce.com Inc (NYSE:CRM) opened at 90.25 on Tuesday. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $92.13. The firm has a market cap of $64.28 billion, a P/E ratio of 477.51 and a beta of 1.29. The stock’s 50 day moving average is $89.23 and its 200 day moving average is $85.86. Salesforce.com also was the recipient of unusually large options trading on Monday. Traders acquired 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 posted its earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, equities research analysts expect that Salesforce.com Inc will post $1.30 EPS for the current year.
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Several research firms have recently commented on CRM. Northland Securities set a $105.00 target price on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Saturday, June 24th. Vetr lowered shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price target for the company. in a research note on Tuesday. MKM Partners reiterated a “buy” rating and issued a $104.00 price target (up from $98.00) on shares of Salesforce.com in a research note on Friday, May 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a research note on Monday, May 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $97.31.
In other Salesforce.com news, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $91.24, for a total value of $912,400.00. Following the completion of the sale, the chief executive officer now owns 34,195,300 shares in the company, valued at $3,119,979,172. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $90.29, for a total value of $724,757.83. Following the completion of the sale, the insider now owns 49,913 shares of the company’s stock, valued at approximately $4,506,644.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,365,109 shares of company stock valued at $122,750,079. 6.70% of the stock is owned by company 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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