Koshinski Asset Management Inc. Buys Shares of 5,259 Salesforce.com Inc (NYSE:CRM)
Koshinski Asset Management Inc. purchased a new position in shares of Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,259 shares of the CRM provider’s stock, valued at approximately $455,000.
Several other hedge funds have also recently bought and sold shares of CRM. Capital One National Association raised its stake in shares of Salesforce.com by 3.2% in the second quarter. Capital One National Association now owns 13,047 shares of the CRM provider’s stock worth $1,130,000 after buying an additional 409 shares during the period. Boltwood Capital Management raised its stake in shares of Salesforce.com by 0.4% in the second quarter. Boltwood Capital Management now owns 13,655 shares of the CRM provider’s stock worth $1,182,000 after buying an additional 60 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Salesforce.com by 2.5% in the second quarter. Xact Kapitalforvaltning AB now owns 99,911 shares of the CRM provider’s stock worth $8,652,000 after buying an additional 2,463 shares during the period. Triangle Securities Wealth Management raised its stake in shares of Salesforce.com by 1.3% in the second quarter. Triangle Securities Wealth Management now owns 11,705 shares of the CRM provider’s stock worth $1,014,000 after buying an additional 150 shares during the period. Finally, DnB Asset Management AS raised its stake in shares of Salesforce.com by 32.7% in the second quarter. DnB Asset Management AS now owns 564,478 shares of the CRM provider’s stock worth $48,884,000 after buying an additional 139,000 shares during the period. Institutional investors own 85.87% of the company’s stock.
Salesforce.com Inc (NYSE:CRM) opened at 90.26 on Wednesday. The firm’s 50-day moving average price is $88.60 and its 200-day moving average price is $85.06. The company has a market cap of $64.28 billion, a PE ratio of 477.57 and a beta of 1.29. Salesforce.com Inc has a one year low of $66.43 and a one year high of $92.13.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, equities research analysts forecast that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on CRM shares. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $100.00 price target (up from $95.00) on shares of Salesforce.com in a report on Friday, May 19th. Zacks Investment Research downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. SunTrust Banks, Inc. initiated coverage on shares of Salesforce.com in a report on Monday, June 26th. They issued a “buy” rating and a $110.00 price target for the company. Vetr downgraded shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price target for the company. in a report on Tuesday, July 11th. Finally, ValuEngine raised shares of Salesforce.com from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and forty have given a buy rating to the company’s stock. Salesforce.com has an average rating of “Buy” and an average target price of $97.41.
In other Salesforce.com news, EVP Burke F. Norton sold 379,189 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $91.37, for a total transaction of $34,646,498.93. Following the sale, the executive vice president now owns 82,843 shares in the company, valued at $7,569,364.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Block sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $86.80, for a total value of $868,000.00. Following the sale, the insider now owns 10,000 shares in the company, valued at approximately $868,000. The disclosure for this sale can be found here. Insiders have sold 1,408,005 shares of company stock valued at $126,555,485 in the last three months. 6.70% of the stock is owned by corporate insiders.
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.
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