First Trust Advisors LP increased its stake in shares of Salesforce.com Inc (NYSE:CRM) by 13.2% during the second quarter, Holdings Channel reports. The institutional investor owned 3,116,756 shares of the CRM provider’s stock after buying an additional 362,969 shares during the period. Salesforce.com accounts for approximately 0.7% of First Trust Advisors LP’s investment portfolio, making the stock its 12th largest position. First Trust Advisors LP’s holdings in Salesforce.com were worth $269,911,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CRM. Capital Impact Advisors LLC boosted its position in shares of Salesforce.com by 55.1% in the first quarter. Capital Impact Advisors LLC now owns 29,266 shares of the CRM provider’s stock valued at $2,414,000 after buying an additional 10,395 shares during the period. Bank of The West boosted its position in shares of Salesforce.com by 4.8% in the first quarter. Bank of The West now owns 71,412 shares of the CRM provider’s stock valued at $5,891,000 after buying an additional 3,297 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Salesforce.com by 8.2% in the first quarter. Gateway Investment Advisers LLC now owns 125,280 shares of the CRM provider’s stock valued at $10,334,000 after buying an additional 9,465 shares during the period. First Financial Corp IN boosted its position in shares of Salesforce.com by 3.2% in the first quarter. First Financial Corp IN now owns 4,727 shares of the CRM provider’s stock valued at $390,000 after buying an additional 146 shares during the period. Finally, Pinnacle Bank acquired a new position in shares of Salesforce.com during the first quarter valued at $181,000. Institutional investors and hedge funds own 85.87% of the company’s stock.

Salesforce.com Inc (CRM) opened at 87.63 on Friday. The firm has a market capitalization of $62.41 billion, a P/E ratio of 463.65 and a beta of 1.29. The company has a 50-day moving average price of $89.19 and a 200 day moving average price of $85.57. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $92.13.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.24 earnings per share. Analysts expect that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.

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CRM has been the topic of several recent research reports. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price objective on the stock in a research note on Monday, May 15th. Zacks Investment Research cut shares of Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Credit Suisse Group initiated coverage on shares of Salesforce.com in a research note on Thursday, April 27th. They issued an “outperform” rating and a $110.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $102.00 price objective on shares of Salesforce.com in a research note on Monday, July 31st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Sunday, May 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the stock. Salesforce.com has a consensus 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 on Tuesday, May 16th. The stock was sold at an average price of $89.79, for a total value of $720,744.33. Following the completion of the transaction, the insider now directly owns 48,254 shares of the company’s stock, valued at $4,332,726.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $89.80, for a total value of $898,000.00. Following the completion of the transaction, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at $3,070,737,940. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,396,066 shares of company stock valued at $125,528,615. 6.70% of the stock is currently owned by insiders.

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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