Norway Savings Bank lessened its holdings in salesforce.com, inc. (NYSE:CRM) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,910 shares of the CRM provider’s stock after selling 130 shares during the quarter. Norway Savings Bank’s holdings in salesforce.com were worth $731,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Demars Financial Group LLC purchased a new stake in shares of salesforce.com during the second quarter worth about $30,000. Capstone Financial Group Inc. purchased a new stake in shares of salesforce.com during the third quarter worth about $50,000. Investors Research Corp increased its stake in shares of salesforce.com by 58.5% during the second quarter. Investors Research Corp now owns 271 shares of the CRM provider’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. JJJ Advisors Inc. increased its stake in shares of salesforce.com by 46.5% during the second quarter. JJJ Advisors Inc. now owns 293 shares of the CRM provider’s stock worth $55,000 after purchasing an additional 93 shares in the last quarter. Finally, Estate Counselors LLC purchased a new stake in shares of salesforce.com during the second quarter worth about $57,000. Institutional investors and hedge funds own 81.40% of the company’s stock.
In other news, CAO Joe Allanson sold 238 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $242.78, for a total value of $57,781.64. Following the completion of the sale, the chief accounting officer now directly owns 31,439 shares of the company’s stock, valued at approximately $7,632,760.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $263.72, for a total value of $3,955,800.00. The disclosure for this sale can be found here. Insiders sold a total of 731,193 shares of company stock valued at $167,388,606 over the last three months. Company insiders own 4.40% of the company’s stock.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, August 25th. The CRM provider reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.77. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.91 earnings per share for the current fiscal year.
A number of research firms have recently commented on CRM. Deutsche Bank Aktiengesellschaft boosted their target price on shares of salesforce.com from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $235.00 price objective (up previously from $220.00) on shares of salesforce.com in a research note on Wednesday, August 19th. 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. TheStreet raised shares of salesforce.com from a “c” rating to a “b+” rating in a research note on Tuesday, August 25th. Finally, Loop Capital upped their price objective on shares of salesforce.com from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. salesforce.com has an average rating of “Buy” and an average price target of $246.31.
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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