tru Independence LLC Takes $76,000 Position in salesforce.com, inc. (NYSE:CRM)

tru Independence LLC bought a new stake in shares of salesforce.com, inc. (NYSE:CRM) in the 4th quarter, Holdings Channel reports. The fund bought 342 shares of the CRM provider’s stock, valued at approximately $76,000.

Several other institutional investors have also made changes to their positions in the company. Dimension Capital Management LLC bought a new position in shares of salesforce.com during the third quarter worth about $26,000. First Personal Financial Services bought a new position in shares of salesforce.com during the fourth quarter worth about $32,000. Pacific Center for Financial Services lifted its position in shares of salesforce.com by 1,340.0% during the fourth quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock worth $32,000 after purchasing an additional 134 shares during the last quarter. Larson Financial Group LLC lifted its holdings in salesforce.com by 93.4% in the fourth quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Finally, Flagship Private Wealth LLC bought a new position in salesforce.com in the fourth quarter worth about $33,000. Institutional investors own 80.20% of the company’s stock.

A number of equities analysts have issued reports on CRM shares. Macquarie raised their target price on shares of salesforce.com from $252.00 to $273.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. Zacks Investment Research cut shares of salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 target price on the stock. in a report on Monday, March 1st. Barclays set a $276.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, December 9th. Mizuho raised their target price on shares of salesforce.com from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, February 17th. Finally, Piper Sandler dropped their price target on shares of salesforce.com from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have issued a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $269.03.

In other salesforce.com news, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $215.68, for a total transaction of $927,424.00. Following the completion of the sale, the insider now owns 69,445 shares of the company’s stock, valued at approximately $14,977,897.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction on Monday, February 8th. The shares were sold at an average price of $239.70, for a total transaction of $1,198,500.00. Following the sale, the insider now directly owns 51,242 shares of the company’s stock, valued at approximately $12,282,707.40. The disclosure for this sale can be found here. Insiders sold a total of 73,330 shares of company stock valued at $16,256,366 in the last ninety days. Company insiders own 4.40% of the company’s stock.

salesforce.com stock opened at $220.79 on Thursday. The company has a 50 day moving average price of $218.94 and a 200 day moving average price of $233.22. salesforce.com, inc. has a 52 week low of $145.00 and a 52 week high of $284.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $203.35 billion, a price-to-earnings ratio of 57.65, a P/E/G ratio of 5.42 and a beta of 1.17.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Thursday, February 25th. The CRM provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.74. salesforce.com had a net margin of 17.53% and a return on equity of 6.63%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.68 billion. Equities analysts forecast that salesforce.com, inc. will post 2.81 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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