Concert Wealth Management Inc. decreased its stake in shares of Salesforce.com Inc. (NYSE:CRM) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 17,063 shares of the CRM provider’s stock after selling 46 shares during the period. Concert Wealth Management Inc.’s holdings in Salesforce.com were worth $1,357,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of CRM. Trust Co. of Vermont raised its position in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. Advisory Services Network LLC raised its position in Salesforce.com by 5.1% in the second quarter. Advisory Services Network LLC now owns 2,206 shares of the CRM provider’s stock valued at $175,000 after buying an additional 107 shares during the period. Savant Capital LLC purchased a new position in Salesforce.com during the second quarter valued at $200,000. Private Bank & Trust Co. purchased a new position in Salesforce.com during the second quarter valued at $201,000. Finally, Osborn Rohs Williams & Donohoe Ltd purchased a new position in Salesforce.com during the second quarter valued at $206,000. 87.23% of the stock is owned by hedge funds and other institutional investors.
Salesforce.com Inc. (NYSE:CRM) traded down 0.14% during trading on Friday, hitting $71.16. The stock had a trading volume of 4,519,331 shares. Salesforce.com Inc. has a 1-year low of $52.60 and a 1-year high of $84.48. The firm’s 50 day moving average is $74.52 and its 200 day moving average is $77.71. The firm has a market cap of $48.74 billion, a price-to-earnings ratio of 219.63 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. Salesforce.com’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 firm earned $0.19 earnings per share. On average, analysts anticipate that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
CRM has been the topic of a number of research analyst reports. SunTrust Banks Inc. reissued a “buy” rating and issued a $98.00 price target on shares of Salesforce.com in a research note on Tuesday, June 14th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Salesforce.com in a research note on Monday, June 13th. Brean Capital reissued a “buy” rating and issued a $110.00 price target on shares of Salesforce.com in a research note on Thursday, June 9th. Vetr cut shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 price target on the stock. in a research note on Monday, July 4th. Finally, Morgan Stanley reissued a “buy” rating on shares of Salesforce.com in a research note on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $92.56.
In other news, CEO Marc Benioff sold 12,500 shares of Salesforce.com stock in a transaction on Monday, July 11th. The stock was sold at an average price of $81.57, for a total transaction of $1,019,625.00. Following the transaction, the chief executive officer now owns 35,383,000 shares in the company, valued at $2,886,191,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wojcicki purchased 1,356 shares of the stock in a transaction dated Monday, September 19th. The shares were acquired at an average price of $73.71 per share, for a total transaction of $99,950.76. Following the acquisition, the director now directly owns 14,147 shares of the company’s stock, valued at approximately $1,042,775.37. The disclosure for this purchase can be found here. Insiders own 6.70% of the company’s stock.
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.