Fiduciary Trust Co. Invests $187,000 in Salesforce.com Inc (CRM) Stock
Fiduciary Trust Co. bought a new position in shares of Salesforce.com Inc (NYSE:CRM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,155 shares of the CRM provider’s stock, valued at approximately $187,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its holdings in Salesforce.com by 14.1% during the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after acquiring an additional 156 shares in the last quarter. Peddock Capital Advisors LLC raised its holdings in Salesforce.com by 3,000.0% during the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after acquiring an additional 1,350 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Salesforce.com during the second quarter worth about $130,000. First Personal Financial Services raised its holdings in Salesforce.com by 7.5% during the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after acquiring an additional 112 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in Salesforce.com during the first quarter worth about $141,000. Institutional investors and hedge funds own 86.98% of the company’s stock.
Salesforce.com Inc (NYSE CRM) opened at 96.85 on Wednesday. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $98.22. The company’s market cap is $69.61 billion. The company has a 50-day moving average of $92.27 and a 200 day moving average of $87.73.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. Salesforce.com’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities analysts forecast that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating on shares of Salesforce.com in a report on Monday. Northland Securities reiterated a “buy” rating and set a $105.00 target price on shares of Salesforce.com in a report on Sunday. Moffett Nathanson started coverage on Salesforce.com in a research report on Wednesday, September 6th. They set a “buy” rating and a $125.00 price target on the stock. Stephens reissued an “overweight” rating and set a $107.00 price target (up previously from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. Finally, Benchmark Co. reissued a “buy” rating on shares of Salesforce.com in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $102.28.
In other Salesforce.com news, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $87.27, for a total value of $700,516.29. Following the sale, the insider now owns 49,913 shares in the company, valued at $4,355,907.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark J. Hawkins sold 490 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total transaction of $45,824.80. Following the completion of the sale, the chief financial officer now owns 14,886 shares in the company, valued at approximately $1,392,138.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 664,078 shares of company stock worth $59,745,953. Corporate insiders own 6.70% of the company’s stock.
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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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