salesforce.com, inc. (NYSE:CRM) Position Cut by Field & Main Bank

Field & Main Bank trimmed its stake in salesforce.com, inc. (NYSE:CRM) by 5.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,085 shares of the CRM provider’s stock after selling 385 shares during the quarter. salesforce.com accounts for approximately 1.3% of Field & Main Bank’s holdings, making the stock its 20th biggest holding. Field & Main Bank’s holdings in salesforce.com were worth $1,921,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. Security National Bank lifted its stake in salesforce.com by 9.4% in the third quarter. Security National Bank now owns 18,636 shares of the CRM provider’s stock valued at $5,054,000 after buying an additional 1,597 shares during the last quarter. TIAA FSB lifted its stake in salesforce.com by 19.0% in the third quarter. TIAA FSB now owns 116,510 shares of the CRM provider’s stock valued at $31,599,000 after buying an additional 18,611 shares during the last quarter. Canton Hathaway LLC lifted its stake in salesforce.com by 737.5% in the third quarter. Canton Hathaway LLC now owns 1,474 shares of the CRM provider’s stock valued at $400,000 after buying an additional 1,298 shares during the last quarter. Pacific Wealth Strategies Group Inc. raised its stake in shares of salesforce.com by 2.6% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 10,106 shares of the CRM provider’s stock valued at $2,741,000 after purchasing an additional 252 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in salesforce.com by 25.4% in the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 6,162 shares of the CRM provider’s stock worth $1,671,000 after purchasing an additional 1,247 shares during the period. Institutional investors own 73.41% of the company’s stock.

In other news, CEO Marc Benioff sold 20,000 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $265.86, for a total transaction of $5,317,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 24,975 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $265.61, for a total transaction of $6,633,609.75. Following the transaction, the insider now 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 quarter, insiders sold 737,826 shares of company stock worth $205,921,946. Company insiders own 4.10% of the company’s stock.

salesforce.com stock traded down $2.25 during trading hours on Thursday, hitting $289.17. The company had a trading volume of 5,090,392 shares, compared to its average volume of 6,067,207. The firm has a market capitalization of $283.10 billion, a P/E ratio of 116.13, a price-to-earnings-growth ratio of 8.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s fifty day moving average is $288.13 and its 200-day moving average is $259.25. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $311.75.

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 the Thomson Reuters’ consensus estimate of $0.92 by $0.56. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. Analysts anticipate that salesforce.com, inc. will post 2.15 earnings per share for the current year.

CRM has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price target on shares of salesforce.com from $266.00 to $290.00 and gave the stock a “market perform” rating in a research note on Thursday, August 26th. Cowen reaffirmed a “buy” rating and issued a $325.00 price target on shares of salesforce.com in a research note on Friday, September 24th. Bank of America upped their price target on shares of salesforce.com from $330.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist upped their price target on shares of salesforce.com from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Finally, Oppenheimer upped their price target on shares of salesforce.com from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $320.59.

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.

Read More: Price to Earnings Ratio (PE)

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

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