Cetera Advisor Networks LLC grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,032 shares of the CRM provider’s stock after buying an additional 3,003 shares during the quarter. Cetera Advisor Networks LLC’s holdings in salesforce.com were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of salesforce.com by 4.7% during the 1st quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock valued at $8,498,982,000 after purchasing an additional 2,395,193 shares in the last quarter. Jennison Associates LLC grew its position in shares of salesforce.com by 8.4% during the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after purchasing an additional 1,673,392 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of salesforce.com by 12.9% during the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock valued at $2,009,810,000 after purchasing an additional 1,516,132 shares in the last quarter. FIL Ltd grew its position in shares of salesforce.com by 158.1% during the 1st quarter. FIL Ltd now owns 1,901,195 shares of the CRM provider’s stock valued at $301,093,000 after purchasing an additional 1,164,713 shares in the last quarter. Finally, FMR LLC grew its position in shares of salesforce.com by 0.8% during the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock valued at $14,208,366,000 after purchasing an additional 698,321 shares in the last quarter. 73.81% of the stock is currently owned by institutional investors.
In related news, insider Parker Harris sold 620 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $149.85, for a total value of $92,907.00. Following the sale, the insider now directly owns 31,375 shares in the company, valued at approximately $4,701,543.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $140.98, for a total transaction of $1,409,800.00. The disclosure for this sale can be found here. Insiders sold a total of 315,614 shares of company stock worth $48,030,737 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.
Several brokerages recently issued reports on CRM. UBS Group set a $190.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada upped their price objective on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. They noted that the move was a valuation call. Credit Suisse Group set a $175.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Jefferies Financial Group raised their price objective on shares of salesforce.com from $165.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Bank of America reiterated a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. salesforce.com has an average rating of “Buy” and an average price target of $183.82.
CRM stock traded down $0.85 during mid-day trading on Friday, hitting $153.90. 461,563 shares of the company were exchanged, compared to its average volume of 7,067,063. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56. The business has a fifty day simple moving average of $150.03 and a 200-day simple moving average of $155.64. The firm has a market capitalization of $131.24 billion, a P/E ratio of 106.14, a PEG ratio of 5.51 and a beta of 1.24.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.57. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. Research analysts predict that salesforce.com, inc. will post 1.25 EPS for the current year.
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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