Arthur M. Cohen & Associates LLC Acquires Shares of 3,411 Salesforce.com Inc (NYSE:CRM)

Arthur M. Cohen & Associates LLC acquired a new stake in shares of Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,411 shares of the CRM provider’s stock, valued at approximately $294,000.

A number of other institutional investors have also modified their holdings of CRM. Vanguard Group Inc. raised its position in shares of Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock valued at $3,619,736,000 after buying an additional 1,956,427 shares during the last quarter. Janus Capital Management LLC raised its position in shares of 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 valued at $927,363,000 after buying an additional 1,910,921 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Salesforce.com by 34.8% in the first quarter. Alliancebernstein L.P. now owns 2,530,351 shares of the CRM provider’s stock valued at $208,729,000 after buying an additional 653,152 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Salesforce.com by 11.2% in the first quarter. Geode Capital Management LLC now owns 5,793,802 shares of the CRM provider’s stock valued at $477,183,000 after buying an additional 583,131 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Salesforce.com by 27.5% in the first quarter. Swiss National Bank now owns 2,285,972 shares of the CRM provider’s stock valued at $188,570,000 after buying an additional 493,400 shares during the last quarter. 85.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Salesforce.com Inc (NYSE:CRM) opened at 90.62 on Monday. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $92.13. The stock’s 50 day moving average price is $88.36 and its 200-day moving average price is $84.69. The company has a market cap of $64.54 billion, a PE ratio of 479.47 and a beta of 1.28.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. Analysts expect that Salesforce.com Inc will post $1.30 EPS for the current year.

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Several brokerages have commented on CRM. Benchmark Co. increased their price target on Salesforce.com from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 15th. Zacks Investment Research downgraded Salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Barclays PLC increased their price target on Salesforce.com from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Credit Suisse Group began coverage on Salesforce.com in a report on Thursday, April 27th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, BTIG Research reiterated a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-one have assigned a buy rating to the company. Salesforce.com presently has an average rating of “Buy” and an average target price of $97.41.

In related news, insider Maria Martinez sold 10,000 shares of Salesforce.com stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the sale, the insider now directly owns 30,907 shares in the company, valued at $2,843,444. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Burke F. Norton sold 379,189 shares of Salesforce.com stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the sale, the executive vice president now owns 82,843 shares in the company, valued at $7,569,364.91. The disclosure for this sale can be found here. Insiders sold 1,399,004 shares of company stock worth $125,474,498 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

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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