MML Investors Services LLC grew its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 14.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,528 shares of the CRM provider’s stock after buying an additional 6,463 shares during the quarter. MML Investors Services LLC’s holdings in salesforce.com were worth $7,667,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Chemung Canal Trust Co. grew its stake in salesforce.com by 1.2% in the second quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock worth $6,688,000 after purchasing an additional 505 shares in the last quarter. Hills Bank & Trust Co. grew its stake in salesforce.com by 5.3% in the second quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock worth $1,438,000 after purchasing an additional 473 shares in the last quarter. Chicago Capital LLC grew its stake in salesforce.com by 3.1% in the second quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock worth $31,825,000 after purchasing an additional 6,237 shares in the last quarter. Ibex Wealth Advisors bought a new position in salesforce.com in the second quarter worth approximately $63,000. Finally, Retirement Systems of Alabama grew its stake in salesforce.com by 1.0% in the second quarter. Retirement Systems of Alabama now owns 612,105 shares of the CRM provider’s stock worth $92,875,000 after purchasing an additional 5,888 shares in the last quarter. 73.81% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. KeyCorp set a $180.00 price objective on salesforce.com and gave the stock a “buy” rating in a research note on Thursday, August 22nd. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. set a $180.00 price objective on salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley increased their price objective on salesforce.com from $178.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Evercore ISI set a $190.00 price objective on salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. salesforce.com currently has an average rating of “Buy” and a consensus target price of $183.82.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.25 EPS for the current year.
In related news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $140.98, for a total value of $1,409,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total value of $92,907.00. Following the completion of the transaction, the insider now owns 31,375 shares of the company’s stock, valued at approximately $4,701,543.75. The disclosure for this sale can be found here. Insiders sold a total of 310,614 shares of company stock valued at $47,265,487 in the last 90 days. 5.50% of the stock is currently owned by company insiders.
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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