M&R Capital Management Inc. maintained its stake in Salesforce.com Inc (NYSE:CRM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,545 shares of the CRM provider’s stock at the close of the second quarter. M&R Capital Management Inc.’s holdings in Salesforce.com were worth $136,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Analysts LLC raised its stake in shares of Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after acquiring an additional 156 shares during the last quarter. Peddock Capital Advisors LLC raised its stake in shares of Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after acquiring an additional 1,350 shares during the last quarter. People s United Financial Inc. raised its stake in shares of Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after acquiring an additional 550 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Salesforce.com in the second quarter worth about $130,000. Finally, Harfst & Associates Inc. bought a new position in shares of Salesforce.com in the first quarter worth about $141,000. 86.06% of the stock is owned by institutional investors.
In other news, insider Parker Harris sold 8,026 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $95.55, for a total value of $766,884.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Keith Block sold 7,641 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $95.85, for a total value of $732,389.85. Following the completion of the sale, the insider now directly owns 14,718 shares in the company, valued at $1,410,720.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 496,114 shares of company stock valued at $45,993,749. 6.20% of the stock is owned by corporate insiders.
A number of brokerages have weighed in on CRM. Vetr downgraded shares of Salesforce.com from a “hold” rating to a “strong sell” rating and set a $80.76 target price for the company. in a research note on Wednesday. JMP Securities raised shares of Salesforce.com to a “positive” rating in a research note on Friday, October 6th. Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of Salesforce.com in a research note on Tuesday, October 3rd. Robert W. Baird set a $110.00 target price on shares of Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, October 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Salesforce.com in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $102.40.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.24. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share.
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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