salesforce.com, inc. (NYSE:CRM) Shares Bought by Axa

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Axa grew its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 13.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 642,117 shares of the CRM provider’s stock after buying an additional 74,972 shares during the period. Axa’s holdings in salesforce.com were worth $92,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NWK Group Inc. purchased a new stake in shares of salesforce.com during the 4th quarter worth approximately $28,000. AlphaCore Capital LLC purchased a new stake in salesforce.com in the 1st quarter valued at approximately $28,000. Delta Asset Management LLC TN raised its holdings in salesforce.com by 166.7% in the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Engrave Wealth Partners LLC acquired a new position in salesforce.com in the 4th quarter valued at $32,000. Finally, Red Door Wealth Management LLC acquired a new position in salesforce.com in the 1st quarter valued at $29,000. Institutional investors own 81.54% of the company’s stock.

NYSE:CRM opened at $187.33 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a 50-day moving average of $178.15 and a two-hundred day moving average of $169.22. The stock has a market cap of $165.18 billion, a P/E ratio of -1,040.72, a PEG ratio of 9.05 and a beta of 1.08. salesforce.com, inc. has a 1-year low of $115.29 and a 1-year high of $195.72.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.85 billion. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. As a group, equities analysts expect that salesforce.com, inc. will post 1.13 earnings per share for the current year.

In other salesforce.com news, insider Srinivas Tallapragada sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $150.50, for a total value of $752,500.00. Following the transaction, the insider now owns 44,314 shares of the company’s stock, valued at $6,669,257. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $132.84, for a total transaction of $1,328,400.00. The disclosure for this sale can be found here. Insiders have sold 527,253 shares of company stock worth $91,133,316 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

CRM has been the subject of several analyst reports. Barclays reiterated a “buy” rating and issued a $186.00 price target on shares of salesforce.com in a report on Tuesday, March 17th. Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Tuesday, June 2nd. Bank of America reiterated a “buy” rating and issued a $210.00 price target on shares of salesforce.com in a report on Thursday, May 14th. Piper Sandler cut their price target on salesforce.com from $205.00 to $193.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Finally, Cfra boosted their price target on salesforce.com from $222.00 to $225.00 and gave the company a “strong-buy” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have given a buy rating and two have issued a strong buy rating to the company. salesforce.com has an average rating of “Buy” and a consensus target price of $199.77.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

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