Sustainable Insight Capital Management LLC raised its stake in shares of salesforce.com, inc. (NYSE:CRM) by 57.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,000 shares of the CRM provider’s stock after buying an additional 7,700 shares during the quarter. salesforce.com comprises approximately 3.7% of Sustainable Insight Capital Management LLC’s holdings, making the stock its largest position. Sustainable Insight Capital Management LLC’s holdings in salesforce.com were worth $3,186,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of salesforce.com by 0.8% during the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock valued at $14,208,366,000 after acquiring an additional 698,321 shares during the last quarter. BlackRock Inc. lifted its position in salesforce.com by 4.7% in the first quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock worth $8,498,982,000 after buying an additional 2,395,193 shares during the last quarter. Jennison Associates LLC lifted its position in salesforce.com by 1.2% in the first quarter. Jennison Associates LLC now owns 19,902,070 shares of the CRM provider’s stock worth $3,151,891,000 after buying an additional 230,376 shares during the last quarter. Janus Henderson Group PLC lifted its position in salesforce.com by 12.9% in the second quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock worth $2,009,810,000 after buying an additional 1,516,132 shares during the last quarter. Finally, Northern Trust Corp lifted its position in salesforce.com by 1.3% in the first quarter. Northern Trust Corp now owns 10,683,259 shares of the CRM provider’s stock worth $1,691,907,000 after buying an additional 140,368 shares during the last quarter. 82.03% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $155.03, for a total transaction of $775,150.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $156.09, for a total value of $96,775.80. Following the completion of the transaction, the insider now owns 30,281 shares in the company, valued at approximately $4,726,561.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,406 shares of company stock worth $44,508,186. Insiders own 5.50% of the company’s stock.
Shares of salesforce.com stock traded down $0.96 during trading on Thursday, hitting $146.42. 3,527,268 shares of the stock traded hands, compared to its average volume of 7,845,927. The firm has a market cap of $111.49 billion, a P/E ratio of 100.98, a price-to-earnings-growth ratio of 5.24 and a beta of 1.27. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a 52-week low of $113.60 and a 52-week high of $167.56. The stock’s fifty day simple moving average is $151.68 and its 200 day simple moving average is $156.26.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.61 by $0.32. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, equities analysts expect that salesforce.com, inc. will post 1.26 EPS for the current year.
A number of analysts recently issued reports on CRM shares. Nomura restated a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a research report on Tuesday, August 13th. Credit Suisse Group restated an “outperform” rating on shares of salesforce.com in a research report on Thursday, June 6th. Monness Crespi & Hardt restated a “buy” rating and issued a $200.00 price target (up from $195.00) on shares of salesforce.com in a research report on Wednesday, June 5th. Jefferies Financial Group restated a “buy” rating and issued a $165.00 price target on shares of salesforce.com in a research report on Friday, August 9th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $178.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $179.79.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
Read More: What is meant by holder of record?
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.