Wedbush Securities Inc. grew its position in salesforce.com, inc. (NYSE:CRM) by 14.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,622 shares of the CRM provider’s stock after purchasing an additional 2,446 shares during the quarter. Wedbush Securities Inc.’s holdings in salesforce.com were worth $2,977,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CRM. Comerica Securities Inc. grew its holdings in shares of salesforce.com by 10.6% during the 4th quarter. Comerica Securities Inc. now owns 1,704 shares of the CRM provider’s stock valued at $233,000 after acquiring an additional 163 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in salesforce.com by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 915,894 shares of the CRM provider’s stock valued at $125,446,000 after acquiring an additional 75,502 shares during the period. 9258 Wealth Management LLC bought a new stake in salesforce.com during the first quarter valued at about $219,000. First Manhattan Co. boosted its holdings in salesforce.com by 14.7% during the first quarter. First Manhattan Co. now owns 1,256 shares of the CRM provider’s stock valued at $198,000 after acquiring an additional 161 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in salesforce.com by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 40,400 shares of the CRM provider’s stock valued at $6,398,000 after acquiring an additional 300 shares during the period. Institutional investors own 82.05% of the company’s stock.
In related news, CEO Keith Block sold 2,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $153.00, for a total value of $382,500.00. Following the completion of the transaction, the chief executive officer now owns 30,002 shares of the company’s stock, valued at $4,590,306. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $142.17, for a total transaction of $1,421,700.00. The disclosure for this sale can be found here. Insiders sold 329,007 shares of company stock valued at $50,574,177 in the last three months. Company insiders own 5.50% of the company’s stock.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. Sell-side analysts predict that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Barclays restated a “buy” rating and set a $182.00 price target on shares of salesforce.com in a report on Tuesday, June 11th. Bank of America restated a “buy” rating and set a $200.00 price target on shares of salesforce.com in a report on Wednesday, June 5th. Credit Suisse Group restated an “outperform” rating on shares of salesforce.com in a report on Thursday, June 6th. Nomura restated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a report on Tuesday. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. salesforce.com presently has an average rating of “Buy” and an average target price of $180.00.
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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