David Loasby Cuts Position in salesforce.com, inc. (NYSE:CRM)

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David Loasby lessened its stake in salesforce.com, inc. (NYSE:CRM) by 38.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,014 shares of the CRM provider’s stock after selling 625 shares during the quarter. David Loasby’s holdings in salesforce.com were worth $255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Plimoth Trust Co. LLC raised its holdings in salesforce.com by 32.6% in the third quarter. Plimoth Trust Co. LLC now owns 11,645 shares of the CRM provider’s stock valued at $2,927,000 after buying an additional 2,865 shares during the period. New Mexico Educational Retirement Board raised its holdings in salesforce.com by 10.5% in the third quarter. New Mexico Educational Retirement Board now owns 65,936 shares of the CRM provider’s stock valued at $9,788,000 after buying an additional 6,250 shares during the period. Zweig DiMenna Associates LLC raised its holdings in salesforce.com by 20.4% in the third quarter. Zweig DiMenna Associates LLC now owns 105,103 shares of the CRM provider’s stock valued at $26,414,000 after buying an additional 17,841 shares during the period. Manchester Capital Management LLC raised its holdings in salesforce.com by 15.6% in the third quarter. Manchester Capital Management LLC now owns 1,018 shares of the CRM provider’s stock valued at $256,000 after buying an additional 137 shares during the period. Finally, BBVA USA Bancshares Inc. raised its stake in shares of salesforce.com by 21.4% during the third quarter. BBVA USA Bancshares Inc. now owns 45,495 shares of the CRM provider’s stock valued at $11,300,000 after purchasing an additional 8,019 shares during the period. Institutional investors and hedge funds own 81.40% of the company’s stock.

A number of analysts have recently issued reports on CRM shares. UBS Group set a $325.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. set a $250.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research note on Tuesday, September 1st. Canaccord Genuity lifted their price objective on shares of salesforce.com from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Truist lifted their price target on shares of salesforce.com from $210.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Bank of America set a $280.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and an average target price of $246.94.

salesforce.com stock traded up $1.11 during midday trading on Thursday, reaching $239.54. The stock had a trading volume of 139,579 shares, compared to its average volume of 6,996,810. 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 52-week low of $115.29 and a 52-week high of $284.50. The firm has a market cap of $216.97 billion, a price-to-earnings ratio of 93.14, a price-to-earnings-growth ratio of 8.39 and a beta of 1.27. The company has a fifty day moving average of $250.71 and a 200 day moving average of $204.38.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 25th. The CRM provider reported $1.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.77. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. Equities research analysts predict that salesforce.com, inc. will post 1.91 EPS for the current year.

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $240.42, for a total value of $3,606,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bret Steven Taylor sold 9,412 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $193.38, for a total transaction of $1,820,092.56. Following the completion of the transaction, the chief operating officer now owns 1,002,763 shares of the company’s stock, valued at approximately $193,914,308.94. The disclosure for this sale can be found here. Insiders have sold a total of 751,328 shares of company stock valued at $178,652,780 in the last quarter. 4.40% of the stock is currently owned by company insiders.

salesforce.com Profile

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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