UMB Bank N A MO Decreases Stake in Salesforce.com Inc. (CRM)
UMB Bank N A MO decreased its stake in Salesforce.com Inc. (NYSE:CRM) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 49,757 shares of the CRM provider’s stock after selling 513 shares during the period. UMB Bank N A MO’s holdings in Salesforce.com were worth $3,951,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CRM. Trust Co. of Vermont raised its stake in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. Private Bank & Trust Co. acquired a new stake in Salesforce.com during the second quarter valued at $201,000. Osborn Rohs Williams & Donohoe Ltd acquired a new stake in Salesforce.com during the second quarter valued at $206,000. Wealthsource Partners LLC acquired a new stake in Salesforce.com during the first quarter valued at $209,000. Finally, Integrated Investment Consultants LLC raised its stake in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.
Shares of Salesforce.com Inc. (NYSE:CRM) traded up 0.55% during trading on Thursday, hitting $74.59. 5,155,738 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $77.35 and its 200-day moving average price is $77.79. Salesforce.com Inc. has a 1-year low of $52.60 and a 1-year high of $84.48. The stock has a market cap of $51.09 billion, a PE ratio of 230.22 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $2.02 billion. During the same quarter last year, the business earned $0.19 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. On average, equities analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
CRM has been the topic of several research reports. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research note on Wednesday, June 1st. Morgan Stanley restated a “buy” rating on shares of Salesforce.com in a research note on Tuesday, May 31st. Citigroup Inc. restated a “buy” rating on shares of Salesforce.com in a research note on Wednesday, June 1st. Bank of America Corp. restated a “buy” rating on shares of Salesforce.com in a research note on Wednesday, June 8th. Finally, Brean Capital restated a “buy” rating on shares of Salesforce.com in a research note on Thursday, June 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-one have given a buy rating to the company. Salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $92.63.
In other news, EVP Amy E. Weaver sold 5,650 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $79.82, for a total transaction of $450,983.00. Following the completion of the sale, the executive vice president now owns 16,179 shares of the company’s stock, valued at approximately $1,291,407.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $73.39, for a total transaction of $917,375.00. Following the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,596,758,370. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
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.
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce.com Inc. (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.