Alpha Cubed Investments LLC bought a new position in Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 4,903 shares of the CRM provider’s stock, valued at approximately $425,000.
Several other hedge funds have also bought and sold shares of CRM. Vanguard Group Inc. increased its stake in Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares during the period. Janus Capital Management LLC increased its stake in 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 worth $927,363,000 after buying an additional 1,910,921 shares during the period. Baillie Gifford & Co. increased its stake in Salesforce.com by 1.0% in the first quarter. Baillie Gifford & Co. now owns 6,989,546 shares of the CRM provider’s stock worth $576,567,000 after buying an additional 70,214 shares during the period. Geode Capital Management LLC increased its stake in 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 worth $477,183,000 after buying an additional 583,131 shares during the period. Finally, Sustainable Growth Advisers LP increased its stake in Salesforce.com by 4.8% in the first quarter. Sustainable Growth Advisers LP now owns 2,934,443 shares of the CRM provider’s stock worth $242,062,000 after buying an additional 133,866 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Shares of Salesforce.com Inc (NYSE:CRM) traded down 0.13% during midday trading on Friday, hitting $90.76. 3,046,785 shares of the stock were exchanged. The firm has a market cap of $64.64 billion, a PE ratio of 480.21 and a beta of 1.29. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $92.49. The firm has a 50-day moving average price of $89.63 and a 200 day moving average price of $86.11.
Salesforce.com (NYSE:CRM) last released its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Analysts predict that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.
A number of equities analysts recently commented on CRM shares. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and set a $100.00 price target (up from $95.00) on shares of Salesforce.com in a research note on Friday, May 19th. Zacks Investment Research cut shares of Salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. SunTrust Banks, Inc. started coverage on shares of Salesforce.com in a research note on Monday, June 26th. They set a “buy” rating and a $110.00 price target for the company. Vetr cut shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price target for the company. in a research note on Tuesday, July 11th. Finally, ValuEngine raised shares of Salesforce.com from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. 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 company’s stock. Salesforce.com has an average rating of “Buy” and an average price target of $97.31.
In related news, insider Joe Allanson sold 309 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.55, for a total transaction of $27,361.95. Following the transaction, the insider now directly owns 28,944 shares in the company, valued at $2,562,991.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Martinez sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the transaction, the insider now owns 30,907 shares in the company, valued at $2,843,444. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,333,410 shares of company stock valued at $119,961,863. Company insiders own 6.70% of the company’s stock.
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.
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