Cerity Partners LLC raised its holdings in salesforce.com, inc. (NYSE:CRM) by 79.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,655 shares of the CRM provider’s stock after acquiring an additional 20,697 shares during the quarter. Cerity Partners LLC’s holdings in salesforce.com were worth $8,739,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC lifted its stake in salesforce.com by 26.9% in the second quarter. AE Wealth Management LLC now owns 33,688 shares of the CRM provider’s stock valued at $6,311,000 after acquiring an additional 7,140 shares during the last quarter. Estate Counselors LLC acquired a new stake in salesforce.com in the second quarter valued at approximately $57,000. AXA lifted its stake in salesforce.com by 13.2% in the first quarter. AXA now owns 642,117 shares of the CRM provider’s stock valued at $92,452,000 after acquiring an additional 74,972 shares during the last quarter. Balentine LLC acquired a new stake in salesforce.com in the first quarter valued at approximately $147,000. Finally, Avantax Advisory Services Inc. lifted its stake in salesforce.com by 28.8% in the second quarter. Avantax Advisory Services Inc. now owns 16,348 shares of the CRM provider’s stock valued at $3,053,000 after acquiring an additional 3,652 shares during the last quarter. Hedge funds and other institutional investors own 81.40% of the company’s stock.
In other salesforce.com news, CAO Joe Allanson sold 218 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $191.71, for a total transaction of $41,792.78. Following the sale, the chief accounting officer now owns 31,559 shares of the company’s stock, valued at approximately $6,050,175.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $251.90, for a total transaction of $3,778,500.00. Following the sale, the chief executive officer now directly owns 29,493,800 shares in the company, valued at approximately $7,429,488,220. The disclosure for this sale can be found here. In the last ninety days, insiders sold 822,922 shares of company stock worth $167,376,305. 4.40% of the stock is owned by insiders.
salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 25th. The CRM provider reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.77. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities analysts predict that salesforce.com, inc. will post 1.91 EPS for the current fiscal year.
CRM has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of salesforce.com from $220.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Needham & Company LLC restated a “hold” rating on shares of salesforce.com in a research note on Friday, May 29th. JPMorgan Chase & Co. set a $250.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Oppenheimer boosted their price objective on shares of salesforce.com from $205.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Finally, Barclays boosted their price objective on shares of salesforce.com from $190.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the company. salesforce.com currently has a consensus rating of “Buy” and an average price target of $243.60.
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.
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