Salesforce.com Inc. (CRM) Position Cut by Waverton Investment Management Ltd
Waverton Investment Management Ltd cut its stake in shares of Salesforce.com Inc. (NYSE:CRM) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 345,309 shares of the CRM provider’s stock after selling 10,680 shares during the period. Salesforce.com comprises about 2.1% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 18th largest position. Waverton Investment Management Ltd owned 0.05% of Salesforce.com worth $27,421,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CRM. Acadian Asset Management LLC raised its position in Salesforce.com by 78.7% in the first quarter. Acadian Asset Management LLC now owns 5,605 shares of the CRM provider’s stock valued at $414,000 after buying an additional 2,469 shares during the last quarter. 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 valued at $2,174,000 after buying an additional 7,986 shares in the last quarter. Nikko Asset Management Americas Inc. bought a new position in shares of Salesforce.com during the first quarter valued at approximately $282,000. NN Investment Partners Holdings N.V. bought a new position in shares of Salesforce.com during the first quarter valued at approximately $3,993,000. Finally, 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 valued at $442,000 after buying an additional 2,370 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) traded up 4.19% during mid-day trading on Thursday, reaching $71.29. 14,937,197 shares of the company’s stock were exchanged. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48. The stock has a 50-day moving average price of $74.66 and a 200-day moving average price of $77.76. The stock has a market cap of $48.83 billion, a P/E ratio of 220.03 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last released 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 firm earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
CRM has been the topic of several recent analyst reports. Bank of America Corp. restated a “buy” rating on shares of Salesforce.com in a report on Wednesday, June 8th. Brean Capital restated a “buy” rating and issued a $110.00 price objective on shares of Salesforce.com in a report on Thursday, June 9th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Salesforce.com in a report on Monday, June 13th. SunTrust Banks Inc. restated a “buy” rating and issued a $98.00 price objective on shares of Salesforce.com in a report on Tuesday, June 14th. Finally, BMO Capital Markets initiated coverage on shares of Salesforce.com in a report on Tuesday, June 14th. They issued an “outperform” rating and a $98.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have assigned a buy rating to the company’s stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $92.56.
In related news, COO Keith Block sold 40,000 shares of Salesforce.com stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $81.00, for a total value of $3,240,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,000 shares in the company, valued at $3,240,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 50,000 shares of Salesforce.com 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 completion of the sale, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at $2,800,564,450. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
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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