Vetr lowered shares of Salesforce.com Inc (NYSE:CRM) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, July 11th. They currently have $97.77 price target on the CRM provider’s stock.

A number of other analysts have also recently commented on CRM. Wedbush reaffirmed an outperform rating on shares of Salesforce.com in a research report on Thursday, March 16th. JMP Securities reaffirmed an outperform rating and set a $92.00 price target on shares of Salesforce.com in a research report on Monday, March 20th. BMO Capital Markets reaffirmed a buy rating and set a $92.00 price target on shares of Salesforce.com in a research report on Wednesday, March 22nd. Robert W. Baird reaffirmed an outperform rating and set a $90.00 price target on shares of Salesforce.com in a research report on Saturday, March 25th. Finally, Barclays PLC upped their price target on shares of Salesforce.com from $89.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and forty have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $97.41.

Shares of Salesforce.com (CRM) opened at 90.45 on Tuesday. The stock’s 50 day moving average price is $88.60 and its 200-day moving average price is $85.06. Salesforce.com has a 12 month low of $66.43 and a 12 month high of $92.13. The firm has a market capitalization of $64.42 billion, a price-to-earnings ratio of 478.57 and a beta of 1.29.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Salesforce.com’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities research analysts predict that Salesforce.com will post $1.30 EPS for the current fiscal year.

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In related news, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $89.79, for a total value of $720,744.33. Following the completion of the sale, the insider now owns 48,254 shares of the company’s stock, valued at approximately $4,332,726.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $85.73, for a total transaction of $857,300.00. Following the transaction, the chairman now directly owns 34,195,300 shares in the company, valued at approximately $2,931,563,069. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,397,777 shares of company stock worth $125,569,365. 6.70% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. raised its stake in Salesforce.com by 124.0% in the second quarter. Tocqueville Asset Management L.P. now owns 127,770 shares of the CRM provider’s stock worth $11,065,000 after buying an additional 70,740 shares during the last quarter. Boston Private Wealth LLC increased its position in shares of Salesforce.com by 0.3% in the second quarter. Boston Private Wealth LLC now owns 12,607 shares of the CRM provider’s stock worth $1,092,000 after buying an additional 38 shares during the period. Peddock Capital Advisors LLC increased its stake in Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after buying an additional 1,350 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Salesforce.com by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 956,917 shares of the CRM provider’s stock valued at $82,869,000 after buying an additional 3,376 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its stake in Salesforce.com by 18.0% in the second quarter. Adell Harriman & Carpenter Inc. now owns 51,059 shares of the CRM provider’s stock valued at $4,422,000 after buying an additional 7,800 shares during the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.

About Salesforce.com

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

To view Vetr’s full report, visit Vetr’s official website.

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