Lyell Wealth Management LP boosted its position in Salesforce.com Inc (NYSE:CRM) by 12.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,450 shares of the CRM provider’s stock after buying an additional 3,965 shares during the period. Salesforce.com accounts for about 1.5% of Lyell Wealth Management LP’s holdings, making the stock its 27th largest position. Lyell Wealth Management LP’s holdings in Salesforce.com were worth $3,070,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CRM. Vanguard Group Inc. boosted its stake in shares of Salesforce.com by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares during the last quarter. Janus Capital Management LLC boosted its stake 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 buying an additional 1,910,921 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake 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 buying an additional 1,342,661 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Salesforce.com by 34.8% in the first quarter. Alliancebernstein L.P. now owns 2,530,351 shares of the CRM provider’s stock worth $208,729,000 after buying an additional 653,152 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Salesforce.com by 11.2% in the first quarter. Geode Capital Management LLC now owns 5,793,802 shares of the CRM provider’s stock worth $477,183,000 after buying an additional 583,131 shares in the last quarter. 85.87% of the stock is currently owned by institutional investors and hedge funds.
Salesforce.com Inc (NYSE CRM) traded up 0.75% during midday trading on Friday, hitting $88.29. The stock had a trading volume of 2,882,037 shares. The stock has a 50-day moving average price of $89.18 and a 200 day moving average price of $85.65. Salesforce.com Inc has a one year low of $66.43 and a one year high of $92.13. The firm has a market cap of $62.88 billion, a PE ratio of 467.14 and a beta of 1.29.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results 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. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. On average, analysts predict 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 recently issued reports on CRM shares. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $100.00 price target (up previously from $95.00) on shares of Salesforce.com in a research note on Friday, May 19th. Zacks Investment Research cut shares of Salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. SunTrust Banks, Inc. started coverage on shares of Salesforce.com in a research note on Monday, June 26th. They issued a “buy” rating and a $110.00 price target on the stock. Vetr cut shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 price target on the stock. in a research note on Tuesday, July 11th. Finally, ValuEngine raised shares of Salesforce.com from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $97.31.
In other Salesforce.com news, insider Amy E. Weaver sold 1,400 shares of Salesforce.com stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $90.12, for a total transaction of $126,168.00. Following the sale, the insider now owns 17,913 shares of the company’s stock, valued at approximately $1,614,319.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Burke F. Norton sold 800 shares of Salesforce.com stock in a transaction on Friday, May 26th. The shares were sold at an average price of $90.85, for a total value of $72,680.00. Following the sale, the executive vice president now directly owns 81,533 shares in the company, valued at approximately $7,407,273.05. The disclosure for this sale can be found here. In the last three months, insiders sold 1,396,066 shares of company stock worth $125,528,615. Company insiders own 6.70% of the company’s stock.
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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