Trade Report: The Salesforce.com Inc. (CRM) is Glynn Capital Management LLC’s 6th Largest Position

The Salesforce.com Inc. (CRM) is Glynn Capital Management LLC’s 6th Largest Position

Glynn Capital Management LLC maintained its position in shares of Salesforce.com Inc. (NYSE:CRM) during the second quarter, Holdings Channel reports. The institutional investor owned 276,808 shares of the CRM provider’s stock at the end of the second quarter. Salesforce.com accounts for 7.2% of Glynn Capital Management LLC’s portfolio, making the stock its 6th largest position. Glynn Capital Management LLC’s holdings in Salesforce.com were worth $21,981,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ngam Advisors L.P. raised its position in shares of Salesforce.com by 37.2% in the first quarter. Ngam Advisors L.P. now owns 29,442 shares of the CRM provider’s stock worth $2,174,000 after buying an additional 7,986 shares during the period. Bessemer Group Inc. raised its position in shares of Salesforce.com by 65.3% in the first quarter. Bessemer Group Inc. now owns 5,997 shares of the CRM provider’s stock worth $442,000 after buying an additional 2,370 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Salesforce.com by 6.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,393 shares of the CRM provider’s stock worth $546,000 after buying an additional 475 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Salesforce.com by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,417 shares of the CRM provider’s stock worth $3,723,000 after buying an additional 9,572 shares during the period. Finally, Covington Investment Advisors Inc. raised its position in shares of Salesforce.com by 1.6% in the first quarter. Covington Investment Advisors Inc. now owns 43,930 shares of the CRM provider’s stock worth $3,243,000 after buying an additional 685 shares during the period. Institutional investors own 87.03% of the company’s stock.

Shares of Salesforce.com Inc. (NYSE:CRM) traded down 1.94% during mid-day trading on Monday, hitting $72.83. 8,777,211 shares of the stock were exchanged. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The stock’s 50 day moving average is $73.40 and its 200-day moving average is $77.74. The stock has a market cap of $49.89 billion, a PE ratio of 224.78 and a beta of 1.59.

Salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The firm earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s revenue was up 25.0% on a year-over-year basis. 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 EPS for the current year.

A number of equities analysts have recently commented on CRM shares. Cowen and Company started coverage on shares of Salesforce.com in a report on Friday, June 24th. They set an “outperform” rating and a $79.39 price target on the stock. Brean Capital reissued a “buy” rating and set a $110.00 target price on shares of Salesforce.com in a research note on Saturday, June 25th. JMP Securities reissued an “outperform” rating and set a $92.00 target price on shares of Salesforce.com in a research note on Sunday, June 26th. Credit Suisse Group AG reissued a “buy” rating on shares of Salesforce.com in a research note on Tuesday, June 28th. Finally, Morgan Stanley reissued a “buy” rating on shares of Salesforce.com in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $92.23.

In related news, Chairman Marc Benioff sold 37,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $81.64, for a total value of $3,061,500.00. Following the completion of the sale, the chairman now directly owns 35,383,000 shares of the company’s stock, valued at $2,888,668,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $81.39, for a total transaction of $406,950.00. Following the completion of the transaction, the insider now owns 37,620 shares of the company’s stock, valued at $3,061,891.80. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

About Salesforce.com

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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