Prudential Financial Inc. Acquires 16,543 Shares of Salesforce.com Inc. (CRM)
Prudential Financial Inc. boosted its stake in Salesforce.com Inc. (NYSE:CRM) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 886,673 shares of the CRM provider’s stock after buying an additional 16,543 shares during the period. Prudential Financial Inc.’s holdings in Salesforce.com were worth $63,246,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CRM. Brighton Jones LLC boosted its stake in Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock valued at $339,000 after buying an additional 22 shares during the last quarter. Hollencrest Securities LLC boosted its position in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of 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 in the last quarter. Finally, Fulton Bank N.A. boosted its position in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. Institutional investors own 85.24% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) opened at 72.00 on Thursday. Salesforce.com Inc. has a 1-year low of $52.60 and a 1-year high of $84.48. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 244.07 and a beta of 1.55. The firm’s 50-day moving average is $74.32 and its 200-day moving average is $77.55.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business earned $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. Salesforce.com’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, equities analysts anticipate that Salesforce.com Inc. will post $0.98 EPS for the current year.
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CRM has been the topic of several recent research reports. MKM Partners restated a “buy” rating and set a $96.00 target price on shares of Salesforce.com in a report on Friday, August 5th. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 target price on the stock in a report on Wednesday, August 10th. Piper Jaffray Cos. restated an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a report on Monday, August 15th. Mizuho restated an “outperform” rating and set a $100.00 target price on shares of Salesforce.com in a report on Monday, August 15th. Finally, JMP Securities restated a “market perform” rating and set a $92.00 target price on shares of Salesforce.com in a report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.05.
In other news, insider Parker Harris sold 5,000 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $70.13, for a total value of $350,650.00. Following the completion of the transaction, the insider now owns 39,467 shares in the company, valued at approximately $2,767,820.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Marc Benioff sold 12,500 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $78.07, for a total transaction of $975,875.00. Following the completion of the transaction, the chairman now owns 34,648,000 shares of the company’s stock, valued at approximately $2,704,969,360. The disclosure for this sale can be found here. Corporate 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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