Salesforce.com Inc (CRM) Holdings Trimmed by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans decreased its holdings in Salesforce.com Inc (NYSE:CRM) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,387,915 shares of the CRM provider’s stock after selling 35,254 shares during the period. Salesforce.com comprises approximately 0.9% of Thrivent Financial For Lutherans’ holdings, making the stock its 21st largest holding. Thrivent Financial For Lutherans owned approximately 0.34% of Salesforce.com worth $206,793,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CRM. Jennison Associates LLC increased its stake in Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock worth $1,629,796,000 after purchasing an additional 2,740,329 shares during the period. Vanguard Group Inc. increased its stake in Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after purchasing an additional 1,956,427 shares during the period. Janus Capital Management LLC increased its stake in 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 worth $927,363,000 after purchasing an additional 1,910,921 shares during the period. Harbour Capital Advisors LLC increased its stake in 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 worth $15,685,000 after purchasing an additional 1,342,661 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Salesforce.com by 34.8% in the first quarter. Alliancebernstein L.P. now owns 2,530,351 shares of the CRM provider’s stock worth $208,729,000 after purchasing an additional 653,152 shares during the period. Institutional investors and hedge funds own 86.98% of the company’s stock.
CRM has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Stephens reiterated an “overweight” rating and issued a $107.00 target price (up previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Vetr upgraded Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 target price on the stock in a research note on Monday, June 12th. BTIG Research reiterated a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Monday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 target price (up previously from $100.00) on shares of Salesforce.com in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $102.28.
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In other news, insider Keith Block sold 15,282 shares of Salesforce.com stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $95.99, for a total value of $1,466,919.18. Following the completion of the sale, the insider now owns 10,000 shares of the company’s stock, valued at $959,900. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of Salesforce.com stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $86.00, for a total value of $860,000.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at approximately $2,940,795,800. The disclosure for this sale can be found here. Insiders have sold 677,159 shares of company stock valued at $61,111,134 in the last three months. 6.70% of the stock is currently owned by company insiders.
Salesforce.com Inc (NYSE:CRM) traded down 0.70% during trading on Friday, reaching $94.63. The company’s stock had a trading volume of 6,081,706 shares. The company has a 50 day moving average price of $92.86 and a 200-day moving average price of $88.04. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $98.22. The company’s market capitalization is $68.01 billion.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. Salesforce.com’s revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts anticipate that Salesforce.com Inc will post $1.32 earnings per share for the current year.
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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