Daiwa Securities Group Inc. Sells 29,086 Shares of Salesforce.com Inc (NYSE:CRM)
Daiwa Securities Group Inc. decreased its position in Salesforce.com Inc (NYSE:CRM) by 17.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,978 shares of the CRM provider’s stock after selling 29,086 shares during the period. Daiwa Securities Group Inc.’s holdings in Salesforce.com were worth $11,862,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CRM. Vanguard Group Inc. boosted its stake in shares of Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares in the last quarter. Janus Capital Management LLC boosted its stake in shares of Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after buying an additional 1,910,921 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Salesforce.com by 8,573.8% in the second quarter. Harbour Capital Advisors LLC now owns 1,358,321 shares of the CRM provider’s stock worth $15,685,000 after buying an additional 1,342,661 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Salesforce.com by 34.8% in the first quarter. Alliancebernstein L.P. now owns 2,530,351 shares of the CRM provider’s stock worth $208,729,000 after buying an additional 653,152 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Salesforce.com by 11.2% in the first quarter. Geode Capital Management LLC now owns 5,793,802 shares of the CRM provider’s stock worth $477,183,000 after buying an additional 583,131 shares in the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
Salesforce.com Inc (CRM) opened at 90.45 on Friday. The firm has a 50-day moving average of $88.60 and a 200-day moving average of $85.06. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $92.13. The firm has a market cap of $64.42 billion, a P/E ratio of 478.57 and a beta of 1.29.
Salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. Salesforce.com’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, analysts expect that Salesforce.com Inc will post $1.30 EPS for the current year.
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CRM has been the subject of a number of recent research reports. Benchmark Co. increased their price target on shares of Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Zacks Investment Research downgraded shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Barclays PLC upped their price objective on shares of Salesforce.com from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Credit Suisse Group began coverage on shares of Salesforce.com in a research report on Thursday, April 27th. They set an “outperform” rating and a $110.00 price objective for the company. Finally, BTIG Research restated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and forty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $97.41.
In other Salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $85.73, for a total transaction of $857,300.00. Following the completion of the transaction, the chairman now directly owns 34,195,300 shares in the company, valued at $2,931,563,069. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maria Martinez sold 940 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $90.14, for a total value of $84,731.60. Following the transaction, the insider now owns 19,967 shares of the company’s stock, valued at $1,799,825.38. The disclosure for this sale can be found here. Insiders sold 1,417,777 shares of company stock valued at $127,304,165 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.
Salesforce.com Company Profile
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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