Atlantic Trust LLC bought a new stake in shares of salesforce.com, inc. (NYSE:CRM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 256 shares of the CRM provider’s stock, valued at approximately $63,000.
Other hedge funds have also modified their holdings of the company. Atlas Private Wealth Advisors raised its holdings in salesforce.com by 115.3% during the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after acquiring an additional 68 shares during the period. Sage Financial Management Group Inc. bought a new stake in salesforce.com during the 1st quarter valued at $32,000. First PREMIER Bank bought a new stake in salesforce.com during the 2nd quarter valued at $32,000. Providence Capital Advisors LLC raised its holdings in salesforce.com by 87.2% during the 1st quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock valued at $34,000 after acquiring an additional 75 shares during the period. Finally, Elkhorn Partners Limited Partnership bought a new stake in salesforce.com during the 1st quarter valued at $36,000. 77.33% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Monness Crespi & Hardt upped their price target on shares of salesforce.com from $300.00 to $328.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada upped their price target on shares of salesforce.com from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday. Credit Suisse Group set a $290.00 price target on shares of salesforce.com in a report on Wednesday, September 1st. Nord/LB set a $275.00 price target on shares of salesforce.com in a report on Tuesday, September 14th. Finally, Robert W. Baird reissued a “buy” rating and issued a $315.00 target price on shares of salesforce.com in a research note on Sunday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $311.27.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. salesforce.com’s revenue was up 23.1% on a year-over-year basis. Research analysts expect that salesforce.com, inc. will post 2.09 earnings per share for the current year.
In other salesforce.com news, COO Bret Steven Taylor sold 1,152 shares of the firm’s stock in a transaction that occurred on Thursday, September 23rd. The shares were sold at an average price of $272.20, for a total transaction of $313,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 23rd. The shares were sold at an average price of $272.20, for a total transaction of $326,640.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 766,605 shares of company stock valued at $193,338,727. 4.10% of the stock is owned by insiders.
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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