First United Bank & Trust Raises Stock Holdings in salesforce.com, inc. (NYSE:CRM)

First United Bank & Trust boosted its holdings in salesforce.com, inc. (NYSE:CRM) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,457 shares of the CRM provider’s stock after buying an additional 170 shares during the quarter. First United Bank & Trust’s holdings in salesforce.com were worth $1,480,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Joseph P. Lucia & Associates LLC increased its position in shares of salesforce.com by 761.5% during the 3rd quarter. Joseph P. Lucia & Associates LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new stake in shares of salesforce.com during the 3rd quarter valued at about $34,000. Atlas Private Wealth Advisors increased its position in shares of salesforce.com by 115.3% during the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after purchasing an additional 68 shares during the last quarter. First PREMIER Bank purchased a new stake in shares of salesforce.com during the 2nd quarter valued at about $32,000. Finally, Duncker Streett & Co. Inc. increased its position in shares of 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 purchasing an additional 43 shares during the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.

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

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.56. The business had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. Research analysts expect that salesforce.com, inc. will post 2.15 EPS for the current year.

In related news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $267.44, for a total transaction of $5,348,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 24,975 shares of the company’s stock in a transaction on Monday, August 30th. The shares were 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 approximately $10,344,447.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 737,826 shares of company stock worth $205,921,946. Insiders own 4.10% of the company’s stock.

Several research firms have recently commented on CRM. Nord/LB set a $275.00 price target on shares of salesforce.com in a research report on Tuesday, September 14th. Sanford C. Bernstein increased their target price on shares of salesforce.com from $266.00 to $290.00 and gave the stock a “market perform” rating in a report on Thursday, August 26th. JPMorgan Chase & Co. set a $316.00 target price on shares of salesforce.com and gave the stock an “overweight” rating in a report on Friday, September 24th. Truist Securities increased their target price on shares of salesforce.com from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Finally, Truist increased their target price on shares of salesforce.com from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $320.59.

About salesforce.com

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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