Rehmann Capital Advisory Group lowered its stake in Salesforce.com Inc. (NYSE:CRM) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,282 shares of the CRM provider’s stock after selling 165 shares during the period. Rehmann Capital Advisory Group’s holdings in Salesforce.com were worth $340,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. TIAA CREF Investment Management LLC increased its stake in shares of Salesforce.com by 3.0% in the first quarter. TIAA CREF Investment Management LLC now owns 9,129,463 shares of the CRM provider’s stock valued at $674,028,000 after buying an additional 264,783 shares in the last quarter. Soroban Capital Partners LP acquired a new stake in shares of Salesforce.com during the first quarter valued at $290,380,000. Teachers Advisors Inc. increased its stake in shares of Salesforce.com by 4.4% in the first quarter. Teachers Advisors Inc. now owns 2,664,558 shares of the CRM provider’s stock valued at $196,724,000 after buying an additional 112,120 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Salesforce.com by 4.3% in the first quarter. Legal & General Group Plc now owns 2,466,990 shares of the CRM provider’s stock valued at $182,138,000 after buying an additional 101,277 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Salesforce.com by 1.7% in the first quarter. 1832 Asset Management L.P. now owns 1,829,100 shares of the CRM provider’s stock valued at $224,248,000 after buying an additional 30,600 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.

Salesforce.com Inc. (NYSE:CRM) traded down 0.12% on Tuesday, hitting $72.91. The company’s stock had a trading volume of 4,833,461 shares. The firm has a 50 day moving average of $77.53 and a 200 day moving average of $77.82. The firm has a market cap of $49.94 billion, a price-to-earnings ratio of 225.03 and a beta of 1.57. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.

Several analysts recently weighed in on CRM shares. Vetr upgraded Salesforce.com from a “strong sell” rating to a “hold” rating and set a $82.92 price objective for the company in a research report on Wednesday, June 1st. DA Davidson reaffirmed a “neutral” rating and issued a $86.00 target price on shares of Salesforce.com in a report on Wednesday, August 31st. Royal Bank Of Canada lowered their target price on Salesforce.com from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. BMO Capital Markets initiated coverage on Salesforce.com in a report on Tuesday, June 14th. They issued an “outperform” rating and a $98.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $96.00 target price (down previously from $98.00) on shares of Salesforce.com in a report on Thursday, September 1st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $92.63.

In other news, Director Susan Wojcicki acquired 1,356 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was acquired at an average price of $73.71 per share, with a total value of $99,950.76. Following the completion of the purchase, the director now directly owns 14,147 shares in the company, valued at $1,042,775.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $81.25, for a total transaction of $2,031,250.00. Following the completion of the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,874,868,750. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

Salesforce.com Company Profile

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

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