salesforce.com, inc. (NYSE:CRM) Shares Bought by Triangle Securities Wealth Management

Triangle Securities Wealth Management grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,475 shares of the CRM provider’s stock after acquiring an additional 113 shares during the quarter. salesforce.com comprises 1.0% of Triangle Securities Wealth Management’s portfolio, making the stock its 28th biggest position. Triangle Securities Wealth Management’s holdings in salesforce.com were worth $2,841,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CRM. Duncker Streett & Co. Inc. lifted its holdings in salesforce.com by 35.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock worth $40,000 after buying an additional 43 shares during the last quarter. Bank of Marin raised its position in shares of salesforce.com by 0.4% during the 2nd quarter. Bank of Marin now owns 12,000 shares of the CRM provider’s stock worth $2,931,000 after purchasing an additional 43 shares during the period. Magellan Asset Management Ltd raised its position in shares of salesforce.com by 2.5% during the 2nd quarter. Magellan Asset Management Ltd now owns 1,880 shares of the CRM provider’s stock worth $459,000 after purchasing an additional 45 shares during the period. Andesa Financial Management Inc. raised its position in shares of salesforce.com by 2.0% during the 2nd quarter. Andesa Financial Management Inc. now owns 2,394 shares of the CRM provider’s stock worth $583,000 after purchasing an additional 46 shares during the period. Finally, Reynders McVeigh Capital Management LLC raised its position in shares of salesforce.com by 2.3% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 2,085 shares of the CRM provider’s stock worth $509,000 after purchasing an additional 46 shares during the period. Institutional investors own 73.41% of the company’s stock.

CRM has been the topic of a number of research reports. Robert W. Baird reiterated a “buy” rating and set a $315.00 price target on shares of salesforce.com in a research report on Sunday, September 26th. UBS Group increased their price target on salesforce.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, September 24th. Cowen reiterated a “buy” rating and set a $325.00 price target on shares of salesforce.com in a research report on Friday, September 24th. Piper Sandler upgraded salesforce.com from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $280.00 to $365.00 in a research report on Friday, September 24th. Finally, JMP Securities raised their target price on salesforce.com from $320.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, September 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, salesforce.com currently has a consensus rating of “Buy” and an average price target of $320.59.

In other news, CEO Marc Benioff sold 68,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $301.74, for a total value of $20,520,733.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 24,975 shares of the business’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $265.61, for a total value of $6,633,609.75. Following the completion of the transaction, the insider now directly owns 38,946 shares in the company, valued at $10,344,447.06. The disclosure for this sale can be found here. Insiders have sold 737,826 shares of company stock worth $205,921,946 over the last ninety days. Company insiders own 4.10% of the company’s stock.

CRM stock opened at $289.17 on Thursday. salesforce.com, inc. has a twelve month low of $201.51 and a twelve month high of $311.75. The company has a market cap of $283.10 billion, a PE ratio of 116.13, a price-to-earnings-growth ratio of 8.37 and a beta of 1.07. The business’s 50-day simple moving average is $288.13 and its 200 day simple moving average is $259.25. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.25 billion. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 earnings per share. On average, equities research analysts anticipate that salesforce.com, inc. will post 2.15 EPS for the current year.

salesforce.com Company Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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