Salesforce.com Inc. (CRM) Shares Sold by Insight Capital Research & Management Inc.
Insight Capital Research & Management Inc. reduced its stake in shares of Salesforce.com Inc. (NYSE:CRM) by 10.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,139 shares of the CRM provider’s stock after selling 4,495 shares during the period. Insight Capital Research & Management Inc.’s holdings in Salesforce.com were worth $3,029,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. TIAA CREF Investment Management LLC raised its stake in 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 worth $674,028,000 after buying an additional 264,783 shares in the last quarter. Soroban Capital Partners LP purchased a new stake in Salesforce.com during the first quarter worth approximately $290,380,000. American Century Companies Inc. raised its stake in Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock worth $261,858,000 after buying an additional 1,161,596 shares in the last quarter. Teachers Advisors Inc. raised its stake in Salesforce.com by 4.4% in the first quarter. Teachers Advisors Inc. now owns 2,664,558 shares of the CRM provider’s stock worth $196,724,000 after buying an additional 112,120 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in 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 worth $182,138,000 after buying an additional 101,277 shares in the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) traded up 0.18% during midday trading on Friday, hitting $71.33. 5,805,350 shares of the stock traded hands. The stock has a market cap of $48.86 billion, a PE ratio of 220.15 and a beta of 1.57. The company has a 50-day moving average of $75.72 and a 200-day moving average of $77.77. 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 consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities research analysts anticipate that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
Several research analysts recently issued reports on the stock. Bank of America Corp. reissued a “buy” rating and set a $77.82 target price (down from $100.00) on shares of Salesforce.com in a research note on Thursday, August 25th. Jefferies Group reissued a “hold” rating and set a $80.00 target price on shares of Salesforce.com in a research note on Tuesday, July 12th. Citigroup Inc. cut their target price on shares of Salesforce.com from $97.00 to $94.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Piper Jaffray Cos. reissued a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Thursday, September 1st. Finally, Morgan Stanley cut their target price on shares of Salesforce.com from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, September 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and forty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.63.
In related news, COO Keith Block sold 40,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $81.00, for a total transaction of $3,240,000.00. Following the sale, the chief operating officer now owns 40,000 shares of the company’s stock, valued at $3,240,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $78.70, for a total value of $393,500.00. Following the sale, the insider now directly owns 37,620 shares in the company, valued at approximately $2,960,694. The disclosure for this sale can be found here. 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.
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