ING Groep NV bought a new stake in salesforce.com, inc. (NYSE:CRM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,915 shares of the CRM provider’s stock, valued at approximately $2,138,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JNBA Financial Advisors increased its stake in salesforce.com, inc. by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock worth $125,000 after buying an additional 155 shares in the last quarter. Dubuque Bank & Trust Co. boosted its position in shares of salesforce.com, inc. by 387.1% in the first quarter. Dubuque Bank & Trust Co. now owns 1,622 shares of the CRM provider’s stock worth $134,000 after buying an additional 1,289 shares during the last quarter. Hemenway Trust Co LLC purchased a new position in shares of salesforce.com, inc. during the fourth quarter worth about $137,000. Pinnacle Bank purchased a new position in shares of salesforce.com, inc. during the first quarter worth about $181,000. Finally, Crestwood Advisors Group LLC purchased a new position in shares of salesforce.com, inc. during the first quarter worth about $184,000. 83.13% of the stock is currently owned by institutional investors.
salesforce.com, inc. (NYSE:CRM) traded up 0.11% during mid-day trading on Friday, hitting $87.85. The stock had a trading volume of 9,275,220 shares. The stock has a 50-day moving average price of $85.48 and a 200 day moving average price of $78.94. salesforce.com, inc. has a 12-month low of $66.43 and a 12-month high of $91.00. The firm has a market cap of $62.15 billion, a P/E ratio of 337.88 and a beta of 1.42. salesforce.com, inc. also saw unusually large options trading on Tuesday. Stock investors bought 20,233 call options on the company. This represents an increase of approximately 165% compared to the typical daily volume of 7,630 call options.
salesforce.com, inc. (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 EPS 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 analysts’ expectations of $2.35 billion. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Equities analysts anticipate that salesforce.com, inc. will post $1.29 EPS for the current fiscal year.
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CRM has been the topic of several research analyst reports. Cowen and Company restated an “outperform” rating and set a $100.00 target price on shares of salesforce.com, inc. in a research note on Friday. Oppenheimer Holdings Inc. restated a “hold” rating and set a $100.00 target price (up previously from $95.00) on shares of salesforce.com, inc. in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $102.00 price objective (down previously from $105.00) on shares of salesforce.com, inc. in a research note on Monday. Drexel Hamilton reiterated a “buy” rating and issued a $100.00 price objective on shares of salesforce.com, inc. in a research note on Monday. Finally, Benchmark Co. increased their price objective on shares of salesforce.com, inc. from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and forty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $94.96.
In related news, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $82.07, for a total value of $820,700.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at $2,806,408,271. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 48,254 shares of the company’s stock, valued at $4,332,726.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 997,585 shares of company stock worth $83,409,993. 6.70% of the stock is currently owned by 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.
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