Liberty Wealth Management LLC boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 199.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335 shares of the CRM provider’s stock after acquiring an additional 223 shares during the quarter. Liberty Wealth Management LLC’s holdings in salesforce.com were worth $51,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Chemung Canal Trust Co. increased its stake in salesforce.com by 1.2% during the second quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock worth $6,688,000 after acquiring an additional 505 shares during the last quarter. Hills Bank & Trust Co. boosted its position in shares of salesforce.com by 5.3% during the second quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock worth $1,438,000 after buying an additional 473 shares during the period. Columbus Circle Investors purchased a new position in shares of salesforce.com during the first quarter worth $26,017,000. MML Investors Services LLC boosted its position in shares of salesforce.com by 46.5% during the first quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock worth $6,979,000 after buying an additional 13,991 shares during the period. Finally, Chicago Capital LLC boosted its position in shares of salesforce.com by 3.1% during the second quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock worth $31,825,000 after buying an additional 6,237 shares during the period. 81.64% of the stock is owned by institutional investors.
CRM has been the subject of several research analyst reports. Nomura lowered their price target on salesforce.com from $184.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. JPMorgan Chase & Co. restated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a research report on Monday, June 3rd. SunTrust Banks raised their price target on salesforce.com to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Credit Suisse Group restated an “outperform” rating on shares of salesforce.com in a research report on Thursday, June 6th. Finally, ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $180.38.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. salesforce.com’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. As a group, research analysts anticipate that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.
In other salesforce.com news, General Counsel Amy E. Weaver sold 6,409 shares of salesforce.com stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $153.92, for a total transaction of $986,473.28. Following the completion of the sale, the general counsel now directly owns 32,650 shares of the company’s stock, valued at approximately $5,025,488. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $142.49, for a total value of $1,424,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 330,337 shares of company stock valued at $50,914,425 over the last ninety days. 5.50% of the stock is owned by company insiders.
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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