Salesforce.com Inc (CRM) Shares Bought by Oak Ridge Investments LLC

Oak Ridge Investments LLC lifted its position in Salesforce.com Inc (NYSE:CRM) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,716 shares of the CRM provider’s stock after buying an additional 1,263 shares during the quarter. Oak Ridge Investments LLC’s holdings in Salesforce.com were worth $1,448,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Thompson Davis & CO. Inc. raised its holdings in shares of Salesforce.com by 0.6% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 3,163 shares of the CRM provider’s stock valued at $274,000 after buying an additional 18 shares during the period. First Personal Financial Services raised its holdings in shares of Salesforce.com by 1.6% in the 2nd quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock valued at $142,000 after buying an additional 25 shares during the period. Appropriate Balance Financial Services Inc. raised its holdings in shares of Salesforce.com by 6.9% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares during the period. Intrust Bank NA raised its holdings in shares of Salesforce.com by 0.4% in the 1st quarter. Intrust Bank NA now owns 8,862 shares of the CRM provider’s stock valued at $731,000 after buying an additional 36 shares during the period. Finally, Boston Private Wealth LLC raised its holdings in shares of Salesforce.com by 0.3% in the 2nd quarter. Boston Private Wealth LLC now owns 12,607 shares of the CRM provider’s stock valued at $1,092,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 86.98% of the company’s stock.

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Several equities research analysts have weighed in on CRM shares. Credit Suisse Group started coverage on Salesforce.com in a report on Tuesday, August 1st. They set an “outperform” rating and a $110.00 price target on the stock. Zacks Investment Research upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Monday, August 21st. Wells Fargo & Company restated a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a report on Thursday, August 24th. BNP Paribas restated a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a report on Friday, August 25th. Finally, JMP Securities restated a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-seven have issued a buy rating to the company. Salesforce.com currently has an average rating of “Buy” and a consensus price target of $102.28.

Salesforce.com Inc (CRM) opened at 97.31 on Tuesday. Salesforce.com Inc has a one year low of $66.43 and a one year high of $97.62. The firm’s market cap is $69.94 billion. The company has a 50-day moving average price of $92.11 and a 200-day moving average price of $87.65.

Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $0.24 EPS. The company’s revenue was up 25.7% on a year-over-year basis. Equities analysts predict that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.

In other news, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $87.27, for a total transaction of $700,516.29. Following the transaction, the insider now directly owns 49,913 shares in the company, valued at approximately $4,355,907.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $87.29, for a total transaction of $872,900.00. Following the transaction, the chairman now owns 34,195,300 shares in the company, valued at $2,984,907,737. The disclosure for this sale can be found here. Over the last three months, insiders have sold 674,078 shares of company stock worth $60,618,853. Company insiders own 6.70% of the company’s stock.

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.

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

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