Kornitzer Capital Management Inc. KS continued to hold its position in shares of Salesforce.com Inc. (NYSE:CRM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,316 shares of the CRM provider’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Salesforce.com were worth $13,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trust Co. of Vermont increased its position in shares of Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. Advisory Services Network LLC increased its position in shares of Salesforce.com by 5.1% in the second quarter. Advisory Services Network LLC now owns 2,206 shares of the CRM provider’s stock valued at $175,000 after buying an additional 107 shares during the period. Savant Capital LLC acquired a new position in shares of Salesforce.com during the second quarter valued at $200,000. Private Bank & Trust Co. acquired a new position in shares of Salesforce.com during the second quarter valued at $201,000. Finally, Osborn Rohs Williams & Donohoe Ltd acquired a new position in shares of Salesforce.com during the second quarter valued at $206,000. Institutional investors and hedge funds own 87.23% of the company’s stock.

Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

Shares of Salesforce.com Inc. (NYSE:CRM) traded up 6.0688% during midday trading on Friday, hitting $74.9164. 22,947,594 shares of the stock were exchanged. The stock’s 50 day moving average is $73.77 and its 200 day moving average is $77.67. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48. The firm has a market cap of $51.32 billion, a P/E ratio of 231.2234 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. On average, equities research analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.

Several brokerages recently weighed in on CRM. Raymond James Financial Inc. set a $105.00 target price on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. FBN Securities set a $90.00 target price on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. DA Davidson set a $86.00 target price on Salesforce.com and gave the stock a “hold” rating in a research note on Sunday, September 11th. Vetr downgraded Salesforce.com from a “buy” rating to a “hold” rating and set a $83.58 target price on the stock. in a research note on Monday, July 11th. Finally, Stephens began coverage on Salesforce.com in a research note on Tuesday, August 2nd. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-five have assigned a buy rating to the stock. Salesforce.com presently has a consensus rating of “Buy” and an average price target of $92.51.

In other news, CEO Marc Benioff sold 12,500 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $81.39, for a total transaction of $1,017,375.00. Following the transaction, the chief executive officer now owns 35,383,000 shares in the company, valued at approximately $2,879,822,370. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 5,000 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $81.39, for a total transaction of $406,950.00. Following the transaction, the insider now owns 37,620 shares in the company, valued at approximately $3,061,891.80. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

Salesforce.com Company Profile

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.

5 Day Chart for NYSE:CRM

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