Salesforce.com Inc. (CRM) Stake Boosted by Standard Life Investments LTD
Standard Life Investments LTD raised its stake in Salesforce.com Inc. (NYSE:CRM) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,188,692 shares of the CRM provider’s stock after buying an additional 17,608 shares during the period. Standard Life Investments LTD owned approximately 0.32% of Salesforce.com worth $173,826,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Soroban Capital Partners LP acquired a new position in Salesforce.com during the first quarter valued at $290,380,000. American Century Companies Inc. boosted its stake in shares of Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock valued at $261,858,000 after buying an additional 1,161,596 shares during the period. Legal & General Group Plc boosted its stake in shares of Salesforce.com by 4.3% in the first quarter. Legal & General Group Plc now owns 2,466,990 shares of the CRM provider’s stock valued at $182,138,000 after buying an additional 101,277 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Salesforce.com by 1.7% in the first quarter. 1832 Asset Management L.P. now owns 1,829,100 shares of the CRM provider’s stock valued at $224,248,000 after buying an additional 30,600 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Salesforce.com by 2.9% in the first quarter. Pictet Asset Management Ltd. now owns 1,007,441 shares of the CRM provider’s stock valued at $68,254,000 after buying an additional 27,996 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) traded down 1.14% on Monday, reaching $70.52. The company had a trading volume of 4,679,102 shares. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The firm has a 50-day moving average of $75.43 and a 200-day moving average of $77.76. The stock has a market capitalization of $48.31 billion, a P/E ratio of 217.65 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the company. DA Davidson set a $86.00 price objective on Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. FBN Securities set a $90.00 price objective on Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 price objective on Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. Morgan Stanley reaffirmed a “buy” rating on shares of Salesforce.com in a report on Tuesday, June 28th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Salesforce.com in a report on Saturday, September 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and forty-two have given a buy rating to the stock. Salesforce.com presently has a consensus rating of “Buy” and an average target price of $92.63.
In other Salesforce.com news, CEO Marc Benioff sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $79.15, for a total value of $3,957,500.00. Following the transaction, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at $2,800,564,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexandre Dayon sold 2,158 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the completion of the transaction, the insider now directly owns 17,454 shares in the company, valued at $1,288,454.28. The disclosure for this sale 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.
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