Watch Point Trust Co Purchases Shares of 17,802 salesforce.com, inc. (CRM)

Watch Point Trust Co purchased a new position in shares of salesforce.com, inc. (NYSE:CRM) during the first quarter, according to its most recent filing with the SEC. The fund purchased 17,802 shares of the CRM provider’s stock, valued at approximately $1,468,000.

Several other large investors have also recently bought and sold shares of CRM. State Street Corp boosted its position in shares of salesforce.com, inc. by 7.0% in the fourth quarter. State Street Corp now owns 26,765,636 shares of the CRM provider’s stock valued at $1,832,372,000 after buying an additional 1,756,272 shares in the last quarter. Jennison Associates LLC boosted its position in shares of salesforce.com, inc. by 3.2% in the third quarter. Jennison Associates LLC now owns 20,758,784 shares of the CRM provider’s stock valued at $1,480,724,000 after buying an additional 649,445 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of salesforce.com, inc. by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 16,980,055 shares of the CRM provider’s stock valued at $1,211,187,000 after buying an additional 585,931 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of salesforce.com, inc. by 24.3% in the fourth quarter. Janus Capital Management LLC now owns 8,844,260 shares of the CRM provider’s stock valued at $605,886,000 after buying an additional 1,727,696 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of salesforce.com, inc. by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 8,648,009 shares of the CRM provider’s stock valued at $616,865,000 after buying an additional 420,944 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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

Shares of salesforce.com, inc. (NYSE:CRM) traded down 0.27% during trading on Friday, hitting $83.82. 2,003,841 shares of the stock were exchanged. The company has a market cap of $59.30 billion, a price-to-earnings ratio of 322.38 and a beta of 1.42. The firm has a 50 day moving average of $83.10 and a 200-day moving average of $76.92. salesforce.com, inc. has a 12-month low of $66.43 and a 12-month high of $86.42.

salesforce.com, inc. (NYSE:CRM) last issued its earnings results on Tuesday, February 28th. The CRM provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.23. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. The company earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business earned $0.19 earnings per share. salesforce.com, inc.’s quarterly revenue was up 26.8% on a year-over-year basis. On average, analysts forecast that salesforce.com, inc. will post $1.29 earnings per share for the current year.

WARNING: “Watch Point Trust Co Purchases Shares of 17,802 salesforce.com, inc. (CRM)” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this news story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The original version of this news story can be accessed at https://www.chaffeybreeze.com/2017/04/21/watch-point-trust-co-invests-1468000-in-salesforce-com-inc-crm-updated.html.

Several brokerages have recently commented on CRM. Vetr downgraded shares of salesforce.com, inc. from a “strong-buy” rating to a “buy” rating and set a $91.96 price objective on the stock. in a research report on Monday, April 3rd. Robert W. Baird restated an “outperform” rating and set a $90.00 price objective on shares of salesforce.com, inc. in a research report on Saturday, March 25th. BMO Capital Markets restated a “buy” rating and set a $92.00 price objective on shares of salesforce.com, inc. in a research report on Wednesday, March 22nd. JMP Securities reiterated an “outperform” rating and issued a $92.00 price target on shares of salesforce.com, inc. in a report on Monday, March 20th. Finally, Wedbush reiterated an “outperform” rating on shares of salesforce.com, inc. in a report on Thursday, March 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $94.02.

In related news, CEO Marc Benioff sold 10,000 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $78.19, for a total value of $781,900.00. Following the completion of the transaction, the chief executive officer now owns 34,155,500 shares in the company, valued at approximately $2,670,618,545. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cynthia G. Robbins sold 571 shares of the stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $76.23, for a total value of $43,527.33. Following the completion of the transaction, the executive vice president now owns 1,517 shares of the company’s stock, valued at approximately $115,640.91. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,689 shares of company stock worth $299,951 and sold 1,130,476 shares worth $91,938,815. 6.70% of the stock is owned by company insiders.

About salesforce.com, inc.

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.

5 Day Chart for NYSE:CRM

Receive News & Ratings for salesforce.com inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply