salesforce.com, inc. (NYSE:CRM) Stock Holdings Raised by Inverness Counsel LLC NY

Inverness Counsel LLC NY lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 34.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,194 shares of the CRM provider’s stock after purchasing an additional 44,745 shares during the period. salesforce.com comprises about 1.6% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 21st biggest holding. Inverness Counsel LLC NY’s holdings in salesforce.com were worth $43,039,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CRM. Duncker Streett & Co. Inc. grew its stake in salesforce.com by 35.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock valued at $40,000 after acquiring an additional 43 shares in the last quarter. Bank of Marin grew its position in salesforce.com by 0.4% during the second quarter. Bank of Marin now owns 12,000 shares of the CRM provider’s stock valued at $2,931,000 after purchasing an additional 43 shares in the last quarter. Hills Bank & Trust Co increased its stake in salesforce.com by 0.3% in the 2nd quarter. Hills Bank & Trust Co now owns 14,884 shares of the CRM provider’s stock valued at $3,636,000 after buying an additional 47 shares during the period. Sage Rhino Capital LLC lifted its position in salesforce.com by 1.2% in the 2nd quarter. Sage Rhino Capital LLC now owns 4,018 shares of the CRM provider’s stock worth $981,000 after buying an additional 48 shares in the last quarter. Finally, Naples Global Advisors LLC grew its holdings in shares of salesforce.com by 4.1% during the 1st quarter. Naples Global Advisors LLC now owns 1,265 shares of the CRM provider’s stock valued at $268,000 after acquiring an additional 50 shares in the last quarter. 77.33% of the stock is owned by hedge funds and other institutional investors.

In other salesforce.com news, insider Parker Harris sold 4,300 shares of the business’s stock in a transaction on Tuesday, June 22nd. The shares were sold at an average price of $242.65, for a total transaction of $1,043,395.00. Following the completion of the sale, the insider now owns 85,431 shares in the company, valued at approximately $20,729,832.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $244.65, for a total transaction of $4,893,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 776,356 shares of company stock valued at $194,260,597. 4.10% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on CRM. Truist Securities increased their target price on salesforce.com from $287.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Sanford C. Bernstein raised their price objective on shares of salesforce.com from $266.00 to $290.00 and gave the company a “market perform” rating in a research report on Thursday, August 26th. Morgan Stanley boosted their price objective on salesforce.com from $285.00 to $305.00 and gave the stock an “overweight” rating in a report on Thursday, August 26th. Societe Generale lifted their target price on shares of salesforce.com from $290.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, August 27th. Finally, BMO Capital Markets upped their price objective on salesforce.com from $280.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $298.33.

Shares of salesforce.com stock traded up $1.74 during trading on Wednesday, hitting $256.11. The company’s stock had a trading volume of 93,169 shares, compared to its average volume of 6,409,822. The stock has a market cap of $250.73 billion, a price-to-earnings ratio of 102.16, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. salesforce.com, inc. has a 52 week low of $201.51 and a 52 week high of $275.22. The stock has a 50-day moving average price of $251.35 and a two-hundred day moving average price of $235.19.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. On average, equities analysts predict that salesforce.com, inc. will post 2.09 EPS for the current fiscal year.

salesforce.com 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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