Middleton & Co Inc MA boosted its stake in shares of Salesforce.com Inc (NYSE:CRM) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,624 shares of the CRM provider’s stock after purchasing an additional 20,685 shares during the period. Salesforce.com comprises 1.9% of Middleton & Co Inc MA’s portfolio, making the stock its 11th largest holding. Middleton & Co Inc MA’s holdings in Salesforce.com were worth $10,521,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of CRM. Appropriate Balance Financial Services Inc. increased its holdings in Salesforce.com by 6.9% during the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares during the last quarter. Capital Analysts LLC increased its holdings in Salesforce.com by 14.1% during the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after buying an additional 156 shares during the last quarter. Peddock Capital Advisors LLC increased its holdings in Salesforce.com by 3,000.0% during the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after buying an additional 1,350 shares during the last quarter. People s United Financial Inc. increased its stake in shares of Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after purchasing an additional 550 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of Salesforce.com in the second quarter worth $130,000. Institutional investors own 86.06% of the company’s stock.
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A number of brokerages recently weighed in on CRM. Barclays PLC upped their target price on shares of Salesforce.com from $101.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets upped their target price on shares of Salesforce.com to $112.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird reiterated a “buy” rating and set a $110.00 price objective (up previously from $100.00) on shares of Salesforce.com in a research report on Wednesday, August 23rd. Drexel Hamilton reiterated a “buy” rating and set a $111.00 price objective on shares of Salesforce.com in a research report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $104.07.
Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share.
In related news, Vice Chairman Keith Block sold 7,641 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.85, for a total value of $732,389.85. Following the completion of the sale, the insider now directly owns 14,718 shares in the company, valued at $1,410,720.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Marc Benioff sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $90.31, for a total value of $2,709,300.00. Following the completion of the sale, the chairman now owns 34,195,300 shares of the company’s stock, valued at $3,088,177,543. The disclosure for this sale can be found here. In the last three months, insiders have sold 544,173 shares of company stock worth $52,389,296. Company insiders own 6.20% of the company’s stock.
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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