Latest Stocks: salesforce.com, inc. (CRM) Position Cut by Zurcher Kantonalbank Zurich Cantonalbank

Latest Stocks: salesforce.com, inc. (CRM) Position Cut by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in salesforce.com, inc. (NYSE:CRM) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,563 shares of the CRM provider’s stock after selling 8,178 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in salesforce.com, inc. were worth $25,618,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CRM. APG Asset Management N.V. increased its stake in salesforce.com, inc. by 2.1% in the third quarter. APG Asset Management N.V. now owns 1,602,681 shares of the CRM provider’s stock worth $114,319,000 after buying an additional 33,349 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in salesforce.com, inc. by 2.8% in the third quarter. Kornitzer Capital Management Inc. KS now owns 172,981 shares of the CRM provider’s stock worth $12,339,000 after buying an additional 4,665 shares during the period. Seven Bridges Advisors LLC increased its stake in salesforce.com, inc. by 2.7% in the third quarter. Seven Bridges Advisors LLC now owns 9,699 shares of the CRM provider’s stock worth $692,000 after buying an additional 256 shares during the period. Mizuho Trust & Banking Co. Ltd. increased its stake in salesforce.com, inc. by 1.7% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,026,327 shares of the CRM provider’s stock worth $73,208,000 after buying an additional 16,976 shares during the period. Finally, Seatown Holdings Pte. Ltd. purchased a new stake in salesforce.com, inc. during the third quarter worth approximately $10,078,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

salesforce.com, inc. (NYSE CRM) opened at 91.38 on Tuesday. salesforce.com, inc. has a 1-year low of $66.43 and a 1-year high of $91.88. The company’s 50-day moving average price is $87.47 and its 200-day moving average price is $80.27. The stock has a market cap of $65.08 billion, a P/E ratio of 483.49 and a beta of 1.42.

salesforce.com, inc. (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. salesforce.com, inc. had a net margin of 2.60% and a return on equity of 2.40%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. Analysts predict that salesforce.com, inc. will post $1.30 EPS for the current year. A number of equities research analysts recently commented on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $110.00 target price (up previously from $105.00) on shares of salesforce.com, inc. in a report on Monday. MKM Partners reaffirmed a “buy” rating and set a $104.00 target price (up previously from $98.00) on shares of salesforce.com, inc. in a report on Friday, May 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 target price on shares of salesforce.com, inc. in a report on Monday, May 22nd. BTIG Research reaffirmed a “buy” rating and set a $100.00 target price on shares of salesforce.com, inc. in a report on Monday, May 22nd. Finally, ValuEngine raised salesforce.com, inc. from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $96.69.

In other news, EVP Burke F. Norton sold 379,189 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $91.37, for a total value of $34,646,498.93. Following the sale, the executive vice president now directly owns 82,843 shares of the company’s stock, valued at approximately $7,569,364.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $89.80, for a total transaction of $898,000.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares in the company, valued at $3,070,737,940. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,559,840 shares of company stock worth $135,875,463. Insiders own 6.70% of the company’s stock. salesforce.com, inc. Company Profile

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