AM Investment Strategies LLC Has $579,000 Stock Position in salesforce.com, inc. (NYSE:CRM)

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AM Investment Strategies LLC lessened its holdings in salesforce.com, inc. (NYSE:CRM) by 30.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,304 shares of the CRM provider’s stock after selling 1,018 shares during the period. AM Investment Strategies LLC’s holdings in salesforce.com were worth $579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of salesforce.com by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 71,232,417 shares of the CRM provider’s stock valued at $13,343,968,000 after purchasing an additional 1,349,434 shares during the last quarter. BlackRock Inc. lifted its stake in shares of salesforce.com by 1.6% in the 2nd quarter. BlackRock Inc. now owns 64,796,146 shares of the CRM provider’s stock valued at $12,138,263,000 after acquiring an additional 1,042,078 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of salesforce.com by 5.8% during the 2nd quarter. Fisher Asset Management LLC now owns 11,506,350 shares of the CRM provider’s stock valued at $2,155,485,000 after acquiring an additional 632,852 shares in the last quarter. Morgan Stanley grew its position in salesforce.com by 2.6% during the 1st quarter. Morgan Stanley now owns 10,834,351 shares of the CRM provider’s stock worth $1,559,929,000 after acquiring an additional 278,879 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in salesforce.com by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,021,779 shares of the CRM provider’s stock worth $1,690,050,000 after purchasing an additional 497,240 shares in the last quarter. 81.40% of the stock is owned by hedge funds and other institutional investors.

CRM has been the topic of several research reports. Piper Sandler boosted their price target on salesforce.com from $210.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. BMO Capital Markets boosted their target price on shares of salesforce.com from $213.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Truist raised their price target on shares of salesforce.com from $210.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Wedbush boosted their price objective on shares of salesforce.com from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. set a $250.00 price objective on salesforce.com and gave the company a “buy” rating in a report on Tuesday, September 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. salesforce.com has a consensus rating of “Buy” and an average target price of $246.94.

In related news, insider Amy E. Weaver sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $246.12, for a total transaction of $1,427,496.00. Following the sale, the insider now directly owns 25,260 shares in the company, valued at approximately $6,216,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $201.27, for a total transaction of $3,019,050.00. Following the completion of the transaction, the chief executive officer now directly owns 29,953,800 shares of the company’s stock, valued at $6,028,801,326. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 751,328 shares of company stock worth $178,652,780. Corporate insiders own 4.40% of the company’s stock.

CRM stock opened at $241.77 on Thursday. The firm has a market capitalization of $216.97 billion, a PE ratio of 93.14, a P/E/G ratio of 8.39 and a beta of 1.27. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.07. salesforce.com, inc. has a twelve month low of $115.29 and a twelve month high of $284.50. The stock’s 50 day moving average is $250.71 and its 200-day moving average is $204.38.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 25th. The CRM provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.77. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.90 billion. salesforce.com had a return on equity of 3.99% and a net margin of 12.21%. salesforce.com’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.91 earnings per share for the current fiscal year.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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.

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

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