Pennsylvania Trust Co Reduces Stake in Salesforce.com Inc. (CRM)
Pennsylvania Trust Co cut its position in Salesforce.com Inc. (NYSE:CRM) by 19.6% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 37,336 shares of the CRM provider’s stock after selling 9,118 shares during the period. Pennsylvania Trust Co’s holdings in Salesforce.com were worth $2,663,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its position in shares of Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock worth $16,360,000 after buying an additional 2,648 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Salesforce.com during the second quarter valued at approximately $31,592,000. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Salesforce.com by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,009,351 shares of the CRM provider’s stock valued at $80,153,000 after buying an additional 10,367 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Salesforce.com by 17.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,096,940 shares of the CRM provider’s stock valued at $87,108,000 after buying an additional 165,000 shares in the last quarter. Finally, Columbus Circle Investors bought a new stake in shares of Salesforce.com during the second quarter valued at approximately $58,994,000. Institutional investors and hedge funds own 85.24% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) remained flat at $72.93 during trading on Tuesday. 7,435,029 shares of the company’s stock were exchanged. The company has a market cap of $50.81 billion, a PE ratio of 247.22 and a beta of 1.55. The firm has a 50-day moving average price of $74.32 and a 200-day moving average price of $77.55. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. Equities research analysts predict that Salesforce.com Inc. will post $0.98 EPS for the current year.
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CRM has been the topic of several research reports. Stephens initiated coverage on shares of Salesforce.com in a research report on Tuesday, August 2nd. They issued an “overweight” rating on the stock. MKM Partners reissued a “buy” rating and issued a $96.00 price target on shares of Salesforce.com in a research note on Friday, August 5th. Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price target for the company in a research note on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $92.05.
In other news, EVP Burke F. Norton sold 180,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $74.15, for a total value of $13,347,000.00. Following the completion of the sale, the executive vice president now owns 253,923 shares of the company’s stock, valued at $18,828,390.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joe Allanson sold 577 shares of the firm’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $73.73, for a total value of $42,542.21. Following the completion of the sale, the insider now directly owns 29,353 shares of the company’s stock, valued at approximately $2,164,196.69. 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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