Bank of The Ozarks Has $853,000 Position in Salesforce.com Inc (NYSE:CRM)
Bank of The Ozarks boosted its stake in shares of Salesforce.com Inc (NYSE:CRM) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,850 shares of the CRM provider’s stock after buying an additional 360 shares during the period. Bank of The Ozarks’ holdings in Salesforce.com were worth $853,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 valued at $3,619,736,000 after buying an additional 1,956,427 shares in the last quarter. Janus Capital Management LLC increased 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 valued at $927,363,000 after buying an additional 1,910,921 shares in the last quarter. Harbour Capital Advisors LLC increased 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 valued at $15,685,000 after buying an additional 1,342,661 shares in the last quarter. Alliancebernstein L.P. increased 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 valued at $208,729,000 after buying an additional 653,152 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 valued at $477,183,000 after buying an additional 583,131 shares in the last quarter. Institutional investors own 85.87% of the company’s stock.
Salesforce.com Inc (NYSE:CRM) opened at 90.12 on Thursday. The firm’s 50-day moving average is $89.19 and its 200-day moving average is $85.55. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $92.13. The stock has a market capitalization of $64.18 billion, a P/E ratio of 476.83 and a beta of 1.29.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Salesforce.com’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts expect that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.
Several analysts have recently commented on CRM shares. Benchmark Co. increased their target price on shares of Salesforce.com from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 15th. Zacks Investment Research downgraded shares of Salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Barclays PLC raised their price objective on shares of Salesforce.com from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Credit Suisse Group initiated coverage on shares of Salesforce.com in a 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 report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $97.31.
In other news, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $90.29, for a total value of $724,757.83. Following the completion of the sale, the insider now directly owns 49,913 shares in the company, valued at $4,506,644.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $88.72, for a total value of $887,200.00. Following the completion of the sale, the chairman now owns 34,195,300 shares of the company’s stock, valued at $3,033,807,016. The disclosure for this sale can be found here. Insiders sold 1,405,838 shares of company stock valued at $126,395,334 over the last three months. 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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