Salesforce.com Inc (CRM) Position Cut by Seaward Management Limited Partnership
Seaward Management Limited Partnership cut its stake in shares of Salesforce.com Inc (NYSE:CRM) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,197 shares of the CRM provider’s stock after selling 1,169 shares during the period. Salesforce.com accounts for 1.7% of Seaward Management Limited Partnership’s investment portfolio, making the stock its 17th largest position. Seaward Management Limited Partnership’s holdings in Salesforce.com were worth $34,743,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CRM. CENTRAL TRUST Co purchased a new stake in shares of Salesforce.com during the first quarter valued at about $601,000. Gulf International Bank UK Ltd increased its stake in shares of Salesforce.com by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 198,845 shares of the CRM provider’s stock valued at $16,402,000 after buying an additional 2,630 shares during the period. Country Club Trust Company n.a. purchased a new stake in shares of Salesforce.com during the first quarter valued at about $539,000. National Pension Service increased its stake in shares of Salesforce.com by 7.3% in the first quarter. National Pension Service now owns 475,401 shares of the CRM provider’s stock valued at $39,249,000 after buying an additional 32,202 shares during the period. Finally, Murphy Capital Management Inc. increased its stake in shares of Salesforce.com by 22.2% in the first quarter. Murphy Capital Management Inc. now owns 13,200 shares of the CRM provider’s stock valued at $1,088,000 after buying an additional 2,400 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.
Salesforce.com Inc (CRM) opened at 90.50 on Tuesday. The firm has a market cap of $64.45 billion, a price-to-earnings ratio of 478.84 and a beta of 1.29. The stock’s 50 day moving average is $88.60 and its 200 day moving average is $85.06. Salesforce.com Inc has a one year low of $66.43 and a one year high of $92.13.
Salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the company posted $0.24 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, analysts predict that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on CRM shares. Barclays PLC raised their target price on shares of Salesforce.com from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Credit Suisse Group started coverage on shares of Salesforce.com in a research note on Thursday, April 27th. They issued an “outperform” rating and a $110.00 target price for the company. Benchmark Co. started coverage on shares of Salesforce.com in a research note on Thursday, April 27th. They issued an “outperform” rating and a $100.00 target price for the company. Zacks Investment Research downgraded shares of Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Sunday, May 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and forty have assigned a buy rating to the company’s stock. Salesforce.com has a consensus rating of “Buy” and a consensus price target of $97.41.
In related news, insider Keith Block sold 10,000 shares of Salesforce.com stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $86.80, for a total transaction of $868,000.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $868,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Marc Benioff sold 30,000 shares of Salesforce.com stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $90.31, for a total transaction of $2,709,300.00. Following the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at $3,088,177,543. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,418,005 shares of company stock valued at $127,427,385. Corporate insiders own 6.70% of the company’s stock.
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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