Essex Savings Bank raised its stake in salesforce.com, inc. (NYSE:CRM) by 15.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,917 shares of the CRM provider’s stock after buying an additional 251 shares during the period. Essex Savings Bank’s holdings in salesforce.com were worth $359,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of salesforce.com by 1.8% in the first quarter. Geode Capital Management LLC now owns 12,091,351 shares of the CRM provider’s stock valued at $1,737,125,000 after buying an additional 216,205 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of salesforce.com by 49.6% in the first quarter. Fisher Asset Management LLC now owns 10,873,498 shares of the CRM provider’s stock valued at $1,565,566,000 after buying an additional 3,606,319 shares in the last quarter. Morgan Stanley increased its holdings in shares of salesforce.com by 2.6% in the first quarter. Morgan Stanley now owns 10,834,351 shares of the CRM provider’s stock valued at $1,559,929,000 after buying an additional 278,879 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of salesforce.com by 18.1% in the first quarter. Wellington Management Group LLP now owns 8,906,354 shares of the CRM provider’s stock valued at $1,282,336,000 after buying an additional 1,364,910 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of salesforce.com in the first quarter valued at $986,207,000. 81.26% of the stock is currently owned by institutional investors.
Several research firms have issued reports on CRM. Piper Sandler upped their price target on salesforce.com from $193.00 to $210.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Royal Bank of Canada cut their target price on shares of salesforce.com from $230.00 to $210.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. 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 note on Tuesday, June 2nd. Jefferies Financial Group boosted their target price on shares of salesforce.com from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. They noted that the move was a valuation call. Finally, Cfra boosted their target price on shares of salesforce.com from $222.00 to $225.00 and gave the company a “strong-buy” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $200.21.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.13 EPS for the current fiscal year.
In other salesforce.com news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $193.07, for a total transaction of $2,896,050.00. Following the completion of the sale, the chief executive officer now directly owns 29,963,800 shares in the company, valued at $5,785,110,866. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.50, for a total transaction of $832,500.00. Following the sale, the insider now owns 42,176 shares of the company’s stock, valued at $7,022,304. The disclosure for this sale can be found here. Insiders have sold 672,077 shares of company stock valued at $123,680,637 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.
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.
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