Northwestern Mutual Wealth Management Co. increased its holdings in Salesforce.com Inc (NYSE:CRM) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,703 shares of the CRM provider’s stock after purchasing 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 & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in CRM. Capital Analysts LLC grew its holdings in Salesforce.com by 14.1% in the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after acquiring an additional 156 shares during the last quarter. Peddock Capital Advisors LLC grew its holdings in Salesforce.com by 3,000.0% in the 2nd 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 during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Salesforce.com during the 2nd quarter valued at about $130,000. First Personal Financial Services boosted its stake in shares of Salesforce.com by 7.5% during the 1st quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock valued at $133,000 after purchasing an additional 112 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in shares of Salesforce.com during the 1st quarter valued at about $141,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Salesforce.com Inc (NYSE CRM) opened at 94.94 on Monday. The stock’s market capitalization is $68.23 billion. Salesforce.com Inc has a one year low of $66.43 and a one year high of $98.22. The company has a 50-day moving average of $93.14 and a 200 day moving average of $88.31.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the business posted $0.24 EPS. The company’s revenue was up 25.7% on a year-over-year basis. Equities research analysts forecast that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
In other news, insider Keith Block sold 10,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $87.64, for a total value of $876,400.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at approximately $876,400. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark J. Hawkins sold 111,646 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $95.08, for a total value of $10,615,301.68. Following the transaction, the chief financial officer now owns 118,302 shares of the company’s stock, valued at approximately $11,248,154.16. The disclosure for this sale can be found here. Insiders have sold a total of 608,494 shares of company stock worth $55,304,994 over the last 90 days. 6.20% of the stock is owned by company insiders.
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A number of research analysts recently issued reports on CRM shares. Stephens reissued an “overweight” rating and set a $107.00 price target (up from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. Zacks Investment Research cut shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Vetr raised shares of Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 target price for the company in a report on Monday, June 12th. Moffett Nathanson assumed coverage on shares of Salesforce.com in a report on Wednesday, September 6th. They issued a “buy” rating and a $125.00 target price for the company. Finally, BNP Paribas reaffirmed a “buy” rating and issued a $95.00 target price on shares of Salesforce.com in a report on Friday, August 25th. One 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 company’s stock. The stock presently has an average rating of “Buy” and an average target price 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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