Salesforce.com Inc (CRM) Shares Bought by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI increased its position in Salesforce.com Inc (NYSE:CRM) by 27.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 228,757 shares of the CRM provider’s stock after buying an additional 49,606 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Salesforce.com were worth $19,810,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of CRM. Emerald Advisers Inc. PA bought a new position in Salesforce.com during the first quarter worth $211,000. Advisor Partners LLC boosted its position in Salesforce.com by 30.0% in the first quarter. Advisor Partners LLC now owns 8,158 shares of the CRM provider’s stock worth $673,000 after buying an additional 1,884 shares in the last quarter. Advisory Services Network LLC bought a new position in Salesforce.com during the first quarter worth $1,428,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Salesforce.com by 4.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 103,745 shares of the CRM provider’s stock worth $8,558,000 after buying an additional 4,137 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Salesforce.com by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 450,090 shares of the CRM provider’s stock worth $37,092,000 after buying an additional 6,994 shares in the last quarter. Institutional investors own 86.98% of the company’s stock.
Shares of Salesforce.com Inc (CRM) traded up 0.54% on Friday, reaching $96.01. 3,679,583 shares of the company traded hands. The firm has a 50-day moving average of $91.25 and a 200-day moving average of $87.10. The company’s market capitalization is $69.00 billion. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $96.17.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company posted $0.24 EPS. Salesforce.com’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, equities research analysts forecast that Salesforce.com Inc will post $1.31 earnings per share for the current fiscal year.
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A number of equities analysts have weighed in on CRM shares. Zacks Investment Research upgraded shares of Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, May 9th. Piper Jaffray Companies restated an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Sunday, May 14th. BMO Capital Markets reduced their price objective on shares of Salesforce.com from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, May 15th. Wedbush restated an “outperform” rating and set a $102.00 price objective (down from $105.00) on shares of Salesforce.com in a research report on Monday, May 15th. Finally, Benchmark Co. increased their target price on shares of Salesforce.com from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $101.82.
In related news, EVP Burke F. Norton sold 379,189 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the completion of the transaction, the executive vice president now owns 82,843 shares in the company, valued at approximately $7,569,364.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Hawkins sold 111,646 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $95.08, for a total value of $10,615,301.68. Following the completion of the transaction, the chief financial officer now owns 118,302 shares of the company’s stock, valued at approximately $11,248,154.16. The disclosure for this sale can be found here. Insiders sold a total of 1,140,495 shares of company stock valued at $103,043,044 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.
Salesforce.com Company Profile
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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