Israel Discount Bank of New York lessened its stake in Salesforce.com Inc (NYSE:CRM) by 33.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,980 shares of the CRM provider’s stock after selling 3,046 shares during the quarter. Israel Discount Bank of New York’s holdings in Salesforce.com were worth $518,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in CRM. Advisors Asset Management Inc. boosted its holdings in shares of Salesforce.com by 19.5% in the first quarter. Advisors Asset Management Inc. now owns 24,259 shares of the CRM provider’s stock valued at $2,001,000 after buying an additional 3,961 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Salesforce.com by 1.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 182,766 shares of the CRM provider’s stock worth $15,214,000 after purchasing an additional 3,179 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Salesforce.com by 22.1% during the first quarter. Daiwa Securities Group Inc. now owns 166,064 shares of the CRM provider’s stock worth $13,698,000 after purchasing an additional 30,031 shares during the last quarter. Henderson Group PLC boosted its holdings in Salesforce.com by 3.1% during the first quarter. Henderson Group PLC now owns 1,261,232 shares of the CRM provider’s stock worth $104,045,000 after purchasing an additional 38,051 shares during the last quarter. Finally, HPM Partners LLC acquired a new position in Salesforce.com during the first quarter worth $610,000. Institutional investors own 86.98% of the company’s stock.
Shares of Salesforce.com Inc (NYSE CRM) traded down 0.70% during mid-day trading on Friday, reaching $94.63. The company’s stock had a trading volume of 6,081,706 shares. The company’s 50-day moving average price is $92.86 and its 200-day moving average price is $88.04. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $98.22. The stock’s market capitalization is $68.01 billion.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.24. The business had revenue of $2.56 billion for 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%. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, equities research analysts forecast that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on CRM shares. Zacks Investment Research lowered shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stephens reissued an “overweight” rating and issued a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. Vetr raised shares of Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 price objective on the stock in a research report on Monday, June 12th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Monday, May 22nd. Finally, BNP Paribas reaffirmed a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-seven have assigned a buy rating to the company’s stock. Salesforce.com has an average rating of “Buy” and an average price target of $102.28.
In other Salesforce.com news, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $96.57, for a total value of $775,167.39. Following the completion of the sale, the insider now directly owns 51,572 shares in the company, valued at approximately $4,980,308.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was 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 owns 34,195,300 shares of the company’s stock, valued at $2,940,795,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 677,159 shares of company stock valued at $61,111,134. Company insiders own 6.70% of the company’s stock.
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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