Gemmer Asset Management LLC Buys 3,295 Shares of salesforce.com, inc. (CRM)
Gemmer Asset Management LLC increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 19.7% during the first quarter, Holdings Channel reports. The fund owned 20,053 shares of the CRM provider’s stock after buying an additional 3,295 shares during the period. salesforce.com, inc. comprises about 0.7% of Gemmer Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Gemmer Asset Management LLC’s holdings in salesforce.com, inc. were worth $1,654,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. JNBA Financial Advisors boosted its stake in shares of salesforce.com, inc. by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock valued at $125,000 after buying an additional 155 shares during the last quarter. Hemenway Trust Co LLC bought a new position in salesforce.com, inc. during the fourth quarter valued at about $137,000. Alpha Omega Wealth Management LLC bought a new position in salesforce.com, inc. during the third quarter valued at about $150,000. Pinnacle Bank bought a new position in salesforce.com, inc. during the first quarter valued at about $181,000. Finally, Private Bank & Trust Co. bought a new position in salesforce.com, inc. during the first quarter valued at about $200,000. Institutional investors own 83.13% of the company’s stock.
Shares of salesforce.com, inc. (NYSE:CRM) traded down 0.27% during trading on Friday, hitting $83.82. 1,993,638 shares of the stock traded hands. salesforce.com, inc. has a 1-year low of $66.43 and a 1-year high of $86.42. The stock has a 50-day moving average of $83.10 and a 200 day moving average of $76.92. The company has a market cap of $59.30 billion, a P/E ratio of 322.38 and a beta of 1.42.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings results on Tuesday, February 28th. The CRM provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.25 by $0.23. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. The company’s revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. On average, equities research analysts predict that salesforce.com, inc. will post $1.29 EPS for the current fiscal year.
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Several research analysts have issued reports on CRM shares. Goldman Sachs Group Inc cut salesforce.com, inc. from a “conviction-buy” rating to a “buy” rating and upped their price target for the company from $79.10 to $96.00 in a report on Wednesday, February 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $90.00 price objective on shares of salesforce.com, inc. in a report on Tuesday, January 31st. JMP Securities reiterated an “outperform” rating and issued a $92.00 price objective on shares of salesforce.com, inc. in a report on Monday, March 20th. Vetr upgraded shares of salesforce.com, inc. from a “buy” rating to a “strong-buy” rating and set a $93.31 price objective for the company in a report on Monday, March 20th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price objective on shares of salesforce.com, inc. in a report on Wednesday, March 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $94.02.
In related news, EVP Cynthia G. Robbins sold 571 shares of salesforce.com, inc. stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $76.23, for a total value of $43,527.33. Following the transaction, the executive vice president now directly owns 1,517 shares of the company’s stock, valued at $115,640.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com, inc. stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $83.93, for a total transaction of $839,300.00. Following the completion of the transaction, the chairman now directly owns 34,195,300 shares in the company, valued at $2,870,011,529. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 3,689 shares of company stock worth $299,951 and have sold 1,130,476 shares worth $91,938,815. Company insiders own 6.70% of the company’s stock.
salesforce.com, inc. 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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