Capital Research Global Investors reduced its position in shares of Salesforce.com Inc (NYSE:CRM) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,419,131 shares of the CRM provider’s stock after selling 833,079 shares during the quarter. Capital Research Global Investors owned about 1.18% of Salesforce.com worth $729,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Jennison Associates LLC raised its stake in shares of Salesforce.com by 17.0% in the 2nd quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock worth $1,629,796,000 after buying an additional 2,740,329 shares in the last quarter. Vanguard Group Inc. raised its position in Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after acquiring an additional 2,268,623 shares in the last quarter. Tybourne Capital Management HK Ltd. raised its position in Salesforce.com by 76.5% in the second quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock worth $410,323,000 after acquiring an additional 2,053,200 shares in the last quarter. Janus Capital Management LLC raised its position in Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after acquiring an additional 1,910,921 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its position in Salesforce.com by 8,573.8% in the second quarter. Harbour Capital Advisors LLC now owns 1,358,321 shares of the CRM provider’s stock worth $15,685,000 after acquiring an additional 1,342,661 shares in the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

CRM has been the subject of several research reports. Canaccord Genuity reissued a “buy” rating on shares of Salesforce.com in a research note on Monday, September 11th. Northland Securities reaffirmed a “buy” rating and set a $105.00 target price on shares of Salesforce.com in a report on Sunday, September 10th. Moffett Nathanson began coverage on Salesforce.com in a report on Wednesday, September 6th. They set a “buy” rating and a $125.00 target price for the company. Piper Jaffray Companies reiterated a “buy” rating on shares of Salesforce.com in a research report on Tuesday, September 26th. Finally, Stephens reiterated an “overweight” rating and issued a $107.00 price target (up previously from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $102.52.

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In other Salesforce.com news, Vice Chairman Keith Block sold 7,641 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $95.85, for a total transaction of $732,389.85. Following the completion of the transaction, the insider now directly owns 14,718 shares of the company’s stock, valued at $1,410,720.30. The sale was disclosed in a filing with the SEC, which is available through 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 transaction, the chief financial officer now directly owns 118,302 shares of the company’s stock, valued at $11,248,154.16. The disclosure for this sale can be found here. Insiders sold 566,572 shares of company stock worth $51,850,375 over the last ninety days. Insiders own 6.20% of the company’s stock.

Shares of Salesforce.com Inc (CRM) traded up 0.5655% during midday trading on Tuesday, reaching $94.4712. 1,155,359 shares of the company’s stock traded hands. The stock has a 50 day moving average of $94.12 and a 200-day moving average of $88.98. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $98.22. The stock’s market cap is $67.90 billion.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $0.24 EPS. Salesforce.com’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities research analysts forecast that Salesforce.com Inc will post $1.32 EPS for the current fiscal year.

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.

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

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