Jag Capital Management LLC acquired a new position in shares of Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 92,487 shares of the CRM provider’s stock, valued at approximately $8,009,000. Salesforce.com comprises approximately 1.6% of Jag Capital Management LLC’s holdings, making the stock its 27th largest position.
Other large investors have also recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in shares of Salesforce.com during the fourth quarter worth approximately $16,734,000. Perigon Wealth Management LLC increased its stake in shares of Salesforce.com by 49.2% in the fourth quarter. Perigon Wealth Management LLC now owns 46,770 shares of the CRM provider’s stock worth $3,845,000 after buying an additional 15,413 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Salesforce.com by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 2,653,210 shares of the CRM provider’s stock worth $181,639,000 after buying an additional 633,760 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Salesforce.com during the fourth quarter worth approximately $3,171,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Salesforce.com during the fourth quarter worth approximately $1,415,000. 85.87% of the stock is currently owned by institutional investors.
Salesforce.com Inc (CRM) traded up 0.75% during trading on Friday, hitting $88.29. 2,882,037 shares of the stock traded hands. Salesforce.com Inc has a one year low of $66.43 and a one year high of $92.13. The stock has a market cap of $62.88 billion, a PE ratio of 467.14 and a beta of 1.29. The company has a 50-day moving average price of $89.18 and a 200 day moving average price of $85.65.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. Analysts expect that Salesforce.com Inc will post $1.30 earnings per share for the current year.
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A number of equities research analysts have commented on CRM shares. Barclays PLC increased their price objective on shares of Salesforce.com from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Credit Suisse Group started coverage on shares of Salesforce.com in a research note on Thursday, April 27th. They set an “outperform” rating and a $110.00 price target for the company. Benchmark Co. started coverage on shares of Salesforce.com in a research note on Thursday, April 27th. They set an “outperform” rating and a $100.00 price target for the company. Zacks Investment Research cut shares of Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $100.00 price target on shares of Salesforce.com in a research note on Sunday, May 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $97.31.
In other news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $89.63, for a total value of $896,300.00. Following the completion of the sale, the chairman now directly owns 34,195,300 shares in the company, valued at $3,064,924,739. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $89.79, for a total value of $720,744.33. Following the completion of the transaction, the insider now owns 48,254 shares in the company, valued at approximately $4,332,726.66. The disclosure for this sale can be found here. Insiders have sold 1,396,066 shares of company stock valued at $125,528,615 over the last quarter. Corporate insiders own 6.70% of the company’s stock.
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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