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

First United Bank & Trust grew its holdings in salesforce.com, inc. (NYSE:CRM) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,457 shares of the CRM provider’s stock after acquiring 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 reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC lifted its position in salesforce.com by 761.5% during the 3rd quarter. Joseph P. Lucia & Associates LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 99 shares during the period. Atlas Private Wealth Advisors lifted its holdings in shares of salesforce.com by 115.3% in the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after buying an additional 68 shares during the period. First PREMIER Bank acquired a new stake in shares of salesforce.com in the 2nd quarter valued at approximately $32,000. Rosenberg Matthew Hamilton acquired a new stake in shares of salesforce.com in the 3rd quarter valued at approximately $34,000. Finally, Duncker Streett & Co. Inc. lifted its holdings in shares of salesforce.com by 35.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock valued at $40,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Several research firms recently weighed in on CRM. Morgan Stanley raised their price objective on salesforce.com from $345.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, November 1st. Wolfe Research raised their price objective on salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. Oppenheimer raised their price objective on salesforce.com from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. FBN Securities raised their price target on salesforce.com from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Finally, Evercore ISI raised their price target on salesforce.com from $325.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, September 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, salesforce.com presently has an average rating of “Buy” and an average target price of $320.59.

In related news, insider Srinivas Tallapragada sold 24,975 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 38,946 shares of the company’s stock, valued at $10,344,447.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $267.44, for a total value of $5,348,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 737,826 shares of company stock worth $205,921,946. Corporate insiders own 4.10% of the company’s stock.

Shares of CRM opened at $289.17 on Thursday. salesforce.com, inc. has a 12 month low of $201.51 and a 12 month high of $311.75. The stock has a market cap of $283.10 billion, a PE ratio of 116.13, a P/E/G 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 stock’s 50-day moving average is $288.13 and its two-hundred day moving average is $259.25.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $6.25 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, research analysts anticipate that salesforce.com, inc. will post 2.15 earnings per share for the current 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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