CIBC World Markets Inc. lessened its holdings in Salesforce.com Inc (NYSE:CRM) by 90.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,105 shares of the CRM provider’s stock after selling 109,126 shares during the period. CIBC World Markets Inc.’s holdings in Salesforce.com were worth $1,048,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Bank of Australia raised its holdings in shares of Salesforce.com by 386.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,160 shares of the CRM provider’s stock worth $705,000 after acquiring an additional 6,484 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Salesforce.com in the 2nd quarter worth about $1,556,000. Fiduciary Trust Co. acquired a new stake in shares of Salesforce.com in the 2nd quarter worth about $187,000. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Salesforce.com by 2,212.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 107,913 shares of the CRM provider’s stock worth $9,345,000 after acquiring an additional 103,246 shares during the last quarter. Finally, Heritage Trust Co acquired a new stake in shares of Salesforce.com in the 2nd quarter worth about $216,000. Institutional investors own 86.98% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Canaccord Genuity restated a “buy” rating on shares of Salesforce.com in a report on Monday, September 11th. Northland Securities restated a “buy” rating and issued a $105.00 target price on shares of Salesforce.com in a report on Sunday, September 10th. Moffett Nathanson initiated coverage on shares of Salesforce.com in a research report on Wednesday, September 6th. They issued a “buy” rating and a $125.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. Finally, BNP Paribas reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Salesforce.com in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $102.28.
In other Salesforce.com news, COO Keith Block sold 10,000 shares of Salesforce.com stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $87.29, for a total transaction of $872,900.00. Following the sale, the chief operating officer now owns 10,000 shares of the company’s stock, valued at approximately $872,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Marc Benioff sold 20,000 shares of Salesforce.com stock in a transaction on Monday, June 19th. The stock was sold at an average price of $86.81, for a total transaction of $1,736,200.00. Following the sale, the chairman now directly owns 34,195,300 shares in the company, valued at approximately $2,968,493,993. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 677,159 shares of company stock worth $61,111,134. 6.70% of the stock is currently owned by corporate insiders.
Shares of Salesforce.com Inc (CRM) opened at 94.63 on Friday. The company’s 50-day moving average is $92.86 and its 200-day moving average is $88.04. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $98.22. The stock’s market cap is $68.01 billion.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. Equities analysts expect that Salesforce.com Inc will post $1.32 EPS for the current fiscal year.
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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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