ST Germain D J Co. Inc. decreased its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,003 shares of the CRM provider’s stock after selling 323 shares during the quarter. ST Germain D J Co. Inc.’s holdings in salesforce.com were worth $7,289,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Demars Financial Group LLC acquired a new position in salesforce.com in the second quarter valued at $30,000. Trustcore Financial Services LLC grew its position in salesforce.com by 116.9% during the third quarter. Trustcore Financial Services LLC now owns 128 shares of the CRM provider’s stock valued at $32,000 after acquiring an additional 69 shares during the period. Northwest Investment Counselors LLC purchased a new stake in salesforce.com during the third quarter valued at about $35,000. Newfound Research LLC purchased a new stake in salesforce.com during the third quarter valued at about $43,000. Finally, Capstone Financial Group Inc. purchased a new stake in salesforce.com during the third quarter valued at about $50,000. 74.58% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on CRM shares. Royal Bank of Canada upped their target price on salesforce.com from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, November 13th. They noted that the move was a valuation call. Raymond James increased their price target on salesforce.com from $230.00 to $255.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 26th. Smith Barney Citigroup started coverage on salesforce.com in a report on Tuesday. They issued an “outperform” rating and a $304.00 price target for the company. Piper Sandler upped their price objective on salesforce.com from $210.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Finally, Bank of America set a $280.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $253.74.
salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 25th. The CRM provider reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.77. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.90 billion. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, sell-side analysts anticipate that salesforce.com, inc. will post 1.91 EPS for the current fiscal year.
In related news, CFO Mark J. Hawkins sold 624 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $207.23, for a total transaction of $129,311.52. Following the sale, the chief financial officer now owns 16,393 shares in the company, valued at $3,397,121.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amy E. Weaver sold 8,326 shares of the company’s stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $249.52, for a total value of $2,077,503.52. Following the sale, the insider now owns 25,664 shares in the company, valued at approximately $6,403,681.28. The disclosure for this sale can be found here. Insiders have sold 576,686 shares of company stock worth $145,362,735 in the last quarter. 4.40% of the stock is currently owned by corporate insiders.
salesforce.com Company 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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