Trade Report: The Salesforce.com Inc. (CRM) Position Maintained by Moody National Bank Trust Division

The Salesforce.com Inc. (CRM) Position Maintained by Moody National Bank Trust Division

Moody National Bank Trust Division maintained its stake in shares of Salesforce.com Inc. (NYSE:CRM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,670 shares of the CRM provider’s stock at the end of the second quarter. Moody National Bank Trust Division’s holdings in Salesforce.com were worth $688,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CRM. Soroban Capital Partners LP bought a new stake in Salesforce.com during the first quarter worth about $290,380,000. American Century Companies Inc. increased its stake in Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock worth $261,858,000 after buying an additional 1,161,596 shares during the last quarter. Tybourne Capital Management HK Ltd. bought a new stake in Salesforce.com during the first quarter worth about $72,518,000. Columbus Circle Investors bought a new stake in Salesforce.com during the second quarter worth about $58,994,000. Finally, Bank of Montreal Can bought a new stake in Salesforce.com during the second quarter worth about $31,592,000. Institutional investors and hedge funds own 87.03% of the company’s stock.

Shares of Salesforce.com Inc. (NYSE:CRM) traded up 0.52% during midday trading on Friday, reaching $75.13. 4,827,750 shares of the company’s stock were exchanged. The company has a market cap of $51.46 billion, a P/E ratio of 231.88 and a beta of 1.59. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The firm has a 50 day moving average price of $72.79 and a 200 day moving average price of $77.64.

Salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. Equities research analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Jefferies Group reiterated a “hold” rating and issued a $80.00 target price on shares of Salesforce.com in a research report on Tuesday, July 12th. Mizuho reiterated an “outperform” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Monday, August 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Monday, August 15th. Finally, Citigroup Inc. cut their target price on shares of Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $92.19.

In related news, EVP Cynthia G. Robbins sold 681 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $74.88, for a total value of $50,993.28. Following the sale, the executive vice president now directly owns 2,666 shares in the company, valued at approximately $199,630.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marc Benioff sold 12,500 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $75.20, for a total value of $940,000.00. Following the completion of the sale, the chairman now owns 34,833,000 shares in the company, valued at $2,619,441,600. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

Salesforce.com Company Profile

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

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