Kore Private Wealth LLC Grows Stake in salesforce.com, inc. (NYSE:CRM)

Kore Private Wealth LLC lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,431 shares of the CRM provider’s stock after purchasing an additional 200 shares during the period. Kore Private Wealth LLC’s holdings in salesforce.com were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of salesforce.com by 0.4% during the second quarter. Vanguard Group Inc. now owns 71,205,534 shares of the CRM provider’s stock worth $17,393,375,000 after purchasing an additional 299,606 shares in the last quarter. Geode Capital Management LLC grew its stake in salesforce.com by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 13,774,687 shares of the CRM provider’s stock valued at $3,353,737,000 after acquiring an additional 499,029 shares in the last quarter. Fisher Asset Management LLC grew its stake in salesforce.com by 3.6% during the 2nd quarter. Fisher Asset Management LLC now owns 13,420,800 shares of the CRM provider’s stock valued at $3,278,299,000 after acquiring an additional 467,815 shares in the last quarter. Nuveen Asset Management LLC grew its stake in salesforce.com by 13.3% during the 1st quarter. Nuveen Asset Management LLC now owns 13,065,311 shares of the CRM provider’s stock valued at $2,768,147,000 after acquiring an additional 1,537,635 shares in the last quarter. Finally, Polen Capital Management LLC grew its stake in salesforce.com by 4.6% during the 2nd quarter. Polen Capital Management LLC now owns 9,649,227 shares of the CRM provider’s stock valued at $2,357,017,000 after acquiring an additional 420,672 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of the firm’s stock in a transaction on Friday, September 24th. The shares were sold at an average price of $283.79, for a total transaction of $5,675,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,300 shares of the firm’s stock in a transaction on Tuesday, October 12th. The stock was sold at an average price of $278.76, for a total transaction of $1,198,668.00. The disclosure for this sale can be found here. Insiders sold a total of 789,178 shares of company stock worth $203,573,681 over the last ninety days. Insiders own 4.10% of the company’s stock.

CRM has been the subject of several research reports. The Goldman Sachs Group set a $350.00 price objective on shares of salesforce.com in a research note on Wednesday, September 1st. Wedbush upped their price objective on shares of salesforce.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. FBN Securities upped their price objective on shares of salesforce.com from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. Mizuho upped their price objective on shares of salesforce.com from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, September 24th. Finally, Sanford C. Bernstein increased their price target on shares of salesforce.com from $266.00 to $290.00 and gave the company a “market perform” rating in a research note on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $311.27.

Shares of NYSE:CRM opened at $284.41 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $262.92 and its two-hundred day moving average is $243.74. The company has a market cap of $278.44 billion, a PE ratio of 114.22, a P/E/G ratio of 7.35 and a beta of 1.09. salesforce.com, inc. has a 52 week low of $201.51 and a 52 week high of $286.36.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.56. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm posted $1.44 EPS. As a group, equities research analysts expect that salesforce.com, inc. will post 2.09 EPS for the current year.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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