Creative Planning boosted its stake in Salesforce.com Inc (NYSE:CRM) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,142 shares of the CRM provider’s stock after buying an additional 545 shares during the period. Creative Planning’s holdings in Salesforce.com were worth $3,996,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Salesforce.com by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 686,065 shares of the CRM provider’s stock valued at $46,972,000 after buying an additional 12,512 shares during the period. Quadrature Capital Ltd bought a new stake in Salesforce.com during the fourth quarter worth approximately $16,734,000. Perigon Wealth Management LLC boosted its stake in Salesforce.com by 49.2% in the fourth quarter. Perigon Wealth Management LLC now owns 46,770 shares of the CRM provider’s stock worth $3,845,000 after buying an additional 15,413 shares in the last quarter. Teachers Advisors LLC boosted its stake in Salesforce.com by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 2,653,210 shares of the CRM provider’s stock worth $181,639,000 after buying an additional 633,760 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new stake in Salesforce.com during the fourth quarter worth approximately $3,171,000. 85.62% of the stock is owned by institutional investors and hedge funds.
Shares of Salesforce.com Inc (NYSE:CRM) opened at 90.00 on Monday. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $91.99. The company’s 50-day moving average price is $88.71 and its 200 day moving average price is $82.11. The company has a market cap of $64.10 billion, a P/E ratio of 476.19 and a beta of 1.28.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business’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 analysts forecast that Salesforce.com Inc will post $1.30 EPS for the current fiscal year.
CRM has been the subject of a number of recent research reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating and set a $100.00 price objective (up previously from $95.00) on shares of Salesforce.com in a research report on Friday, May 19th. Zacks Investment Research cut Salesforce.com from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. SunTrust Banks, Inc. started coverage on Salesforce.com in a report on Monday, June 26th. They issued a “buy” rating and a $110.00 price target for the company. Vetr cut Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price target for the company. in a report on Tuesday, July 11th. Finally, Robert W. Baird restated an “outperform” rating and issued a $90.00 price target on shares of Salesforce.com in a report on Saturday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $97.41.
In other Salesforce.com news, insider Keith Block sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $84.21, for a total transaction of $842,100.00. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at $842,100. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Amy E. Weaver sold 6,438 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $86.37, for a total value of $556,050.06. Following the transaction, the insider now directly owns 24,164 shares in the company, valued at approximately $2,087,044.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,389,961 shares of company stock worth $124,011,690. Company insiders own 6.70% of the company’s stock.
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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