salesforce.com, inc. (NYSE:CRM) Holdings Increased by Engrave Wealth Partners LLC

Share on StockTwits

Engrave Wealth Partners LLC grew its stake in shares of salesforce.com, inc. (NYSE:CRM) by 45.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 345 shares of the CRM provider’s stock after buying an additional 107 shares during the quarter. Engrave Wealth Partners LLC’s holdings in salesforce.com were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CRM. Norges Bank bought a new stake in shares of salesforce.com during the 4th quarter worth about $1,322,911,000. Loomis Sayles & Co. L P bought a new stake in shares of salesforce.com in the 1st quarter worth approximately $986,207,000. Fisher Asset Management LLC raised its holdings in shares of salesforce.com by 49.6% in the 1st quarter. Fisher Asset Management LLC now owns 10,873,498 shares of the CRM provider’s stock worth $1,565,566,000 after purchasing an additional 3,606,319 shares in the last quarter. Polen Capital Management LLC raised its holdings in shares of salesforce.com by 96.7% in the 1st quarter. Polen Capital Management LLC now owns 6,062,595 shares of the CRM provider’s stock worth $872,892,000 after purchasing an additional 2,980,823 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of salesforce.com by 18.1% in the 1st quarter. Wellington Management Group LLP now owns 8,906,354 shares of the CRM provider’s stock worth $1,282,336,000 after purchasing an additional 1,364,910 shares in the last quarter. Institutional investors own 81.26% of the company’s stock.

CRM stock traded up $1.22 during trading hours on Tuesday, hitting $189.56. The company’s stock had a trading volume of 5,852,647 shares, compared to its average volume of 6,896,259. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $179.19 billion, a PE ratio of -1,053.11, a price-to-earnings-growth ratio of 9.82 and a beta of 1.08. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $202.82. The stock has a 50 day moving average price of $183.83 and a two-hundred day moving average price of $171.53.

salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.85 billion. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. Sell-side analysts expect that salesforce.com, inc. will post 1.13 earnings per share for the current year.

In other news, CFO Mark J. Hawkins sold 36,581 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $185.88, for a total value of $6,799,676.28. Following the completion of the sale, the chief financial officer now directly owns 14,144 shares in the company, valued at $2,629,086.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Joe Allanson sold 218 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $191.71, for a total transaction of $41,792.78. Following the completion of the sale, the chief accounting officer now owns 31,559 shares of the company’s stock, valued at $6,050,175.89. The disclosure for this sale can be found here. Insiders sold 605,376 shares of company stock valued at $108,362,271 over the last 90 days. 4.40% of the stock is owned by corporate insiders.

A number of analysts recently commented on CRM shares. Monness Crespi & Hardt boosted their target price on shares of salesforce.com from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Mizuho boosted their target price on shares of salesforce.com from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Piper Sandler lifted their target price on shares of salesforce.com from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research raised shares of salesforce.com from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Tuesday, June 2nd. Finally, Morgan Stanley dropped their target price on shares of salesforce.com from $225.00 to $195.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-nine have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $200.21.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

Featured Story: Understanding Analyst Recommendations

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.