Magnus Financial Group LLC Trims Stock Position in salesforce.com, inc. (NYSE:CRM)
Magnus Financial Group LLC lowered its position in shares of salesforce.com, inc. (NYSE:CRM) by 15.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,063 shares of the CRM provider’s stock after selling 365 shares during the period. Magnus Financial Group LLC’s holdings in salesforce.com were worth $313,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. FMR LLC grew its stake in salesforce.com by 0.8% during the first quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock valued at $14,208,366,000 after acquiring an additional 698,321 shares in the last quarter. BlackRock Inc. grew its stake in salesforce.com by 4.7% in the 1st quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock worth $8,498,982,000 after buying an additional 2,395,193 shares in the last quarter. Jennison Associates LLC grew its stake in salesforce.com by 1.2% in the 1st quarter. Jennison Associates LLC now owns 19,902,070 shares of the CRM provider’s stock worth $3,151,891,000 after buying an additional 230,376 shares in the last quarter. Janus Henderson Group PLC grew its stake in salesforce.com by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock worth $2,009,810,000 after buying an additional 1,516,132 shares in the last quarter. Finally, Northern Trust Corp grew its stake in salesforce.com by 1.3% in the 1st quarter. Northern Trust Corp now owns 10,683,259 shares of the CRM provider’s stock worth $1,691,907,000 after buying an additional 140,368 shares in the last quarter. 82.03% of the stock is owned by institutional investors.
In related news, insider Parker Harris sold 620 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $156.09, for a total transaction of $96,775.80. Following the completion of the sale, the insider now directly owns 30,281 shares in the company, valued at approximately $4,726,561.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $158.94, for a total transaction of $794,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 320,498 shares of company stock valued at $48,924,059 over the last quarter. 5.50% of the stock is currently owned by company insiders.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business posted $0.74 EPS. The firm’s revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.26 EPS for the current year.
A number of equities analysts have commented on the stock. Evercore ISI set a $190.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein reissued a “neutral” rating and issued a $169.00 price target on shares of salesforce.com in a research note on Tuesday, June 11th. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a research note on Wednesday, June 5th. OTR Global raised shares of salesforce.com to a “positive” rating in a research note on Thursday, August 15th. Finally, Wedbush reissued an “outperform” rating and issued a $184.00 price target (down previously from $192.00) on shares of salesforce.com in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $179.79.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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