IFP Advisors Inc decreased its stake in shares of Salesforce.com Inc (NYSE:CRM) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,859 shares of the CRM provider’s stock after selling 783 shares during the period. IFP Advisors Inc’s holdings in Salesforce.com were worth $507,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Appropriate Balance Financial Services Inc. raised its position in Salesforce.com by 6.9% in the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares during the period. Intrust Bank NA raised its position in Salesforce.com by 0.4% in the first quarter. Intrust Bank NA now owns 8,862 shares of the CRM provider’s stock valued at $731,000 after buying an additional 36 shares during the period. King Luther Capital Management Corp raised its position in Salesforce.com by 1.3% in the first quarter. King Luther Capital Management Corp now owns 3,233 shares of the CRM provider’s stock valued at $267,000 after buying an additional 43 shares during the period. Wellington Shields Capital Management LLC raised its position in Salesforce.com by 0.3% in the first quarter. Wellington Shields Capital Management LLC now owns 15,350 shares of the CRM provider’s stock valued at $1,266,000 after buying an additional 50 shares during the period. Finally, Boltwood Capital Management raised its position in Salesforce.com by 0.4% in the second quarter. Boltwood Capital Management now owns 13,655 shares of the CRM provider’s stock valued at $1,182,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.

Salesforce.com Inc (NYSE:CRM) opened at 88.29 on Friday. The firm has a market capitalization of $62.88 billion, a PE ratio of 467.14 and a beta of 1.29. The company has a 50 day moving average of $89.18 and a 200 day moving average of $85.65. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $92.13.

Salesforce.com (NYSE:CRM) last released 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. 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 quarter last year, the company earned $0.24 earnings per share. Salesforce.com’s quarterly revenue was up 24.6% compared to the same quarter last year. Analysts forecast that Salesforce.com Inc will post $1.30 EPS for the current year.

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Several equities analysts have commented on the stock. Northland Securities set a $105.00 price objective on shares of Salesforce.com and gave the company a “buy” rating in a research report on Saturday, June 24th. MKM Partners reiterated a “buy” rating and set a $104.00 price objective (up previously from $98.00) on shares of Salesforce.com in a research report on Friday, May 19th. Jefferies Group LLC reiterated a “hold” rating and set a $80.00 price objective on shares of Salesforce.com in a research report on Monday, May 22nd. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, May 22nd. Finally, Mizuho reiterated a “buy” rating and set a $100.00 price objective (up previously from $95.00) on shares of Salesforce.com in a research report on Friday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $97.31.

In other news, insider Maria Martinez sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the insider now owns 30,907 shares in the company, valued at $2,843,444. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $90.29, for a total value of $724,757.83. Following the completion of the transaction, the insider now owns 49,913 shares of the company’s stock, valued at approximately $4,506,644.77. The disclosure for this sale can be found here. In the last three months, insiders sold 1,396,066 shares of company stock valued at $125,528,615. 6.70% of the stock is owned by corporate 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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