Ally Financial Inc. bought a new stake in Salesforce.com Inc (NYSE:CRM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,000 shares of the CRM provider’s stock, valued at approximately $1,039,000.

A number of other institutional investors have also recently bought and sold shares of CRM. Jennison Associates LLC raised its position in Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after purchasing an additional 2,740,329 shares during the last quarter. Vanguard Group Inc. raised its position in Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after purchasing an additional 2,268,623 shares during the last quarter. Janus Capital Management LLC raised its position in Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock valued at $927,363,000 after purchasing an additional 1,910,921 shares during the last quarter. Harbour Capital Advisors LLC raised its position in Salesforce.com by 8,573.8% in the second quarter. Harbour Capital Advisors LLC now owns 1,358,321 shares of the CRM provider’s stock valued at $15,685,000 after purchasing an additional 1,342,661 shares during the last quarter. Finally, Coatue Management LLC bought a new position in Salesforce.com in the second quarter valued at about $94,297,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

In related news, CFO Mark J. Hawkins sold 490 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $93.52, for a total transaction of $45,824.80. Following the completion of the sale, the chief financial officer now owns 14,886 shares of the company’s stock, valued at approximately $1,392,138.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Hawkins sold 4,906 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $94.79, for a total transaction of $465,039.74. Following the sale, the chief financial officer now directly owns 20,186 shares of the company’s stock, valued at approximately $1,913,430.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 608,494 shares of company stock valued at $55,304,994. Insiders own 6.20% of the company’s stock.

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Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s revenue was up 25.7% compared to the same quarter last year.

Several brokerages have recently weighed in on CRM. Canaccord Genuity reissued a “buy” rating on shares of Salesforce.com in a research note on Monday, September 11th. Northland Securities reissued a “buy” rating and issued a $105.00 price target on shares of Salesforce.com in a research note on Sunday, September 10th. Moffett Nathanson began coverage on Salesforce.com in a research note on Wednesday, September 6th. They issued a “buy” rating and a $125.00 price target for the company. Stephens reissued an “overweight” rating and issued a $107.00 price target (up previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Finally, UBS AG reissued a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $102.28.

About Salesforce.com

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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