Northwestern Mutual Wealth Management Co. lifted its stake in shares of Salesforce.com Inc (NYSE:CRM) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,703 shares of the CRM provider’s stock after acquiring an additional 6,768 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Salesforce.com were worth $6,815,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of CRM. Thompson Davis & CO. Inc. grew its stake in shares of Salesforce.com by 0.6% during the second quarter. Thompson Davis & CO. Inc. now owns 3,163 shares of the CRM provider’s stock worth $274,000 after purchasing an additional 18 shares in the last quarter. First Personal Financial Services grew its stake in shares of Salesforce.com by 1.6% during the second quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock worth $142,000 after purchasing an additional 25 shares in the last quarter. Appropriate Balance Financial Services Inc. grew its stake in shares of Salesforce.com by 6.9% during the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock worth $5,928,000 after purchasing an additional 33 shares in the last quarter. Intrust Bank NA grew its stake in shares of Salesforce.com by 0.4% during the first quarter. Intrust Bank NA now owns 8,862 shares of the CRM provider’s stock worth $731,000 after purchasing an additional 36 shares in the last quarter. Finally, Boston Private Wealth LLC boosted its stake in Salesforce.com by 0.3% in the second quarter. Boston Private Wealth LLC now owns 12,607 shares of the CRM provider’s stock valued at $1,092,000 after acquiring an additional 38 shares in the last quarter. 86.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $96.57, for a total value of $775,167.39. Following the transaction, the insider now owns 51,572 shares of the company’s stock, valued at approximately $4,980,308.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark J. Hawkins sold 490 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $93.52, for a total transaction of $45,824.80. Following the completion of the transaction, the chief financial officer now directly 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 three months, insiders have sold 677,159 shares of company stock worth $61,111,134. Insiders own 6.70% of the company’s stock.
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Salesforce.com Inc (NYSE CRM) traded down 0.70% on Friday, hitting $94.63. 6,081,706 shares of the stock traded hands. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $98.22. The stock has a 50-day moving average of $92.86 and a 200-day moving average of $88.04. The firm’s market cap is $68.01 billion.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 25.7% on a year-over-year basis. Analysts forecast that Salesforce.com Inc will post $1.32 earnings per share for the current year.
CRM has been the subject of several research analyst reports. J P Morgan Chase & Co restated a “buy” rating and issued a $95.00 price objective on shares of Salesforce.com in a research note on Wednesday, August 23rd. Drexel Hamilton restated a “buy” rating and issued a $111.00 price objective on shares of Salesforce.com in a research note on Wednesday, August 23rd. SunTrust Banks, Inc. started coverage on shares of Salesforce.com in a research note on Monday, June 26th. They issued a “buy” rating and a $110.00 price objective for the company. Vetr cut shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 target price for the company. in a report on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $90.00 target price (down from $95.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-seven have issued a buy rating to the company’s stock. Salesforce.com has an average rating of “Buy” and a consensus price target of $102.28.
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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