Essex Investment Management Co. LLC lowered its position in Salesforce.com Inc (NYSE:CRM) by 6.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,898 shares of the CRM provider’s stock after selling 2,096 shares during the period. Essex Investment Management Co. LLC’s holdings in Salesforce.com were worth $2,589,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. First Personal Financial Services boosted its stake in shares of Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after buying an additional 112 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Salesforce.com by 387.1% in the first quarter. Dubuque Bank & Trust Co. now owns 1,622 shares of the CRM provider’s stock worth $134,000 after buying an additional 1,289 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Salesforce.com during the first quarter worth $141,000. Acrospire Investment Management LLC boosted its stake in shares of Salesforce.com by 35.7% in the first quarter. Acrospire Investment Management LLC now owns 1,900 shares of the CRM provider’s stock worth $157,000 after buying an additional 500 shares during the last quarter. Finally, Pinnacle Bank acquired a new stake in shares of Salesforce.com during the first quarter worth $181,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Shares of Salesforce.com Inc (NYSE CRM) opened at 90.88 on Friday. The company’s 50 day moving average is $89.51 and its 200-day moving average is $86.03. The company has a market capitalization of $64.72 billion, a P/E ratio of 480.85 and a beta of 1.29. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $92.49.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $0.24 EPS. On average, equities research analysts forecast that Salesforce.com Inc will post $1.30 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Essex Investment Management Co. LLC Lowers Stake in Salesforce.com Inc (NYSE:CRM)” was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://stocknewstimes.com/2017/08/18/salesforce-com-inc-nysecrm-position-cut-by-essex-investment-management-co-llc-updated-updated.html.
A number of equities analysts recently commented on the stock. Vetr lowered shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price objective for the company. in a research note on Tuesday. Northland Securities set a $105.00 price objective on shares of Salesforce.com and gave the stock a “buy” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Salesforce.com in a research note on Monday, July 31st. BidaskClub lowered shares of Salesforce.com from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Salesforce.com in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $97.31.
In other Salesforce.com news, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $91.24, for a total transaction of $912,400.00. Following the completion of the transaction, the chief executive officer now owns 34,195,300 shares in the company, valued at approximately $3,119,979,172. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $90.76, for a total transaction of $728,530.52. Following the transaction, the insider now owns 49,913 shares of the company’s stock, valued at approximately $4,530,103.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,333,410 shares of company stock valued at $119,961,863. 6.70% of the stock is owned by company insiders.
About Salesforce.com
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.
Receive News & Ratings for Salesforce.com Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc and related companies with MarketBeat.com's FREE daily email newsletter.
