Legacy Capital Partners Inc. acquired a new stake in Salesforce.com Inc (NYSE:CRM) during the second quarter, Holdings Channel reports. The institutional investor acquired 2,798 shares of the CRM provider’s stock, valued at approximately $242,000.

Several other hedge funds also recently modified their holdings of the company. First Personal Financial Services increased its stake in shares of Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after buying an additional 112 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in shares of Salesforce.com by 387.1% in the first quarter. Dubuque Bank & Trust Co. now owns 1,622 shares of the CRM provider’s stock worth $134,000 after buying an additional 1,289 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Salesforce.com during the first quarter worth approximately $141,000. Acrospire Investment Management LLC increased its stake in shares of Salesforce.com by 35.7% in the first quarter. Acrospire Investment Management LLC now owns 1,900 shares of the CRM provider’s stock worth $157,000 after buying an additional 500 shares during the last quarter. Finally, Pinnacle Bank acquired a new stake in shares of Salesforce.com during the first quarter worth approximately $181,000. 85.87% of the stock is owned by hedge funds and other institutional investors.

Shares of Salesforce.com Inc (NYSE:CRM) opened at 90.12 on Thursday. The firm’s 50-day moving average price is $89.19 and its 200 day moving average price is $85.55. The company has a market capitalization of $64.18 billion, a PE ratio of 476.83 and a beta of 1.29. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $92.13.

Salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, equities analysts forecast that Salesforce.com Inc will post $1.30 earnings per share for the current year.

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A number of analysts recently commented on CRM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Salesforce.com in a research report on Friday, May 19th. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price target for the company in a research report on Monday, May 15th. Drexel Hamilton reaffirmed a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Monday, May 15th. Benchmark Co. increased their price target on Salesforce.com from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research raised Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $97.31.

In other news, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $85.73, for a total transaction of $857,300.00. Following 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 legal filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 8,027 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $90.29, for a total transaction of $724,757.83. Following the transaction, the insider now owns 49,913 shares in the company, valued at $4,506,644.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,405,838 shares of company stock worth $126,395,334. Corporate insiders own 6.70% of the company’s stock.

About Salesforce.com

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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Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

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