Roosevelt Investment Group LLC Buys 4,233 Shares of salesforce.com, inc. (NYSE:CRM)

Roosevelt Investment Group LLC lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 11.0% during the second quarter, HoldingsChannel reports. The firm owned 42,770 shares of the CRM provider’s stock after acquiring an additional 4,233 shares during the quarter. Roosevelt Investment Group LLC’s holdings in salesforce.com were worth $10,447,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. raised its stake 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 worth $40,000 after purchasing an additional 43 shares in the last quarter. Bank of Marin raised its stake in salesforce.com by 0.4% in the 2nd quarter. Bank of Marin now owns 12,000 shares of the CRM provider’s stock valued at $2,931,000 after acquiring an additional 43 shares during the period. Andesa Financial Management Inc. raised its stake in salesforce.com by 2.0% in the 2nd quarter. Andesa Financial Management Inc. now owns 2,394 shares of the CRM provider’s stock valued at $583,000 after acquiring an additional 46 shares during the period. Hills Bank & Trust Co raised 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 acquiring an additional 47 shares during the period. Finally, Sage Rhino Capital LLC raised its stake 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 valued at $981,000 after acquiring an additional 48 shares during the period. Institutional investors own 77.33% of the company’s stock.

Several research analysts have weighed in on CRM shares. Truist increased their price objective on salesforce.com from $287.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. Societe Generale increased their price objective on salesforce.com from $290.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Canaccord Genuity increased their price objective on salesforce.com from $200.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. UBS Group set a $300.00 price objective on salesforce.com in a research report on Wednesday, September 1st. Finally, Royal Bank of Canada set a $310.00 price objective on salesforce.com in a research report on Wednesday, September 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, salesforce.com has a consensus rating of “Buy” and a consensus price target of $299.22.

CRM stock traded up $2.55 during mid-day trading on Tuesday, reaching $260.77. The company’s stock had a trading volume of 86,100 shares, compared to its average volume of 6,394,759. The company has a market cap of $255.29 billion, a price-to-earnings ratio of 104.14, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The business’s 50 day moving average price is $252.41 and its 200 day moving average price is $236.55. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. salesforce.com, inc. has a 12 month low of $201.51 and a 12 month high of $275.22.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.56. The business had revenue of $6.34 billion during 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 firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, equities analysts expect that salesforce.com, inc. will post 2.09 EPS for the current fiscal year.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 23rd. The stock was sold at an average price of $242.18, for a total value of $4,843,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brent Hyder sold 25,362 shares of the business’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $250.00, for a total value of $6,340,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 783,656 shares of company stock valued at $196,712,344. 4.10% of the stock is currently owned by corporate insiders.

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.

Further Reading: How Does the Quiet Period Work?

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

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