Next Century Growth Investors LLC Has $1.26 Million Holdings in salesforce.com, inc. (NYSE:CRM)

Next Century Growth Investors LLC cut its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,145 shares of the CRM provider’s stock after selling 201 shares during the quarter. Next Century Growth Investors LLC’s holdings in salesforce.com were worth $1,256,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in shares of salesforce.com by 11.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,776 shares of the CRM provider’s stock worth $9,960,000 after purchasing an additional 4,053 shares in the last quarter. Bfsg LLC raised its stake in shares of salesforce.com by 8.1% during the second quarter. Bfsg LLC now owns 14,740 shares of the CRM provider’s stock valued at $3,601,000 after acquiring an additional 1,110 shares during the last quarter. TIG Advisors LLC raised its stake in shares of salesforce.com by 221.4% during the first quarter. TIG Advisors LLC now owns 26,812 shares of the CRM provider’s stock valued at $5,681,000 after acquiring an additional 18,470 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in salesforce.com by 118.3% during the second quarter. Jaffetilchin Investment Partners LLC now owns 8,667 shares of the CRM provider’s stock worth $2,016,000 after buying an additional 4,697 shares during the last quarter. Finally, NorthCoast Asset Management LLC raised its stake in salesforce.com by 2.3% during the second quarter. NorthCoast Asset Management LLC now owns 104,103 shares of the CRM provider’s stock worth $25,429,000 after buying an additional 2,373 shares during the last quarter. 77.33% of the stock is currently owned by institutional investors.

Shares of salesforce.com stock traded up $4.66 on Thursday, hitting $289.07. 58,895 shares of the company traded hands, compared to its average volume of 6,377,344. The stock has a market capitalization of $283.00 billion, a P/E ratio of 116.08, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. salesforce.com, inc. has a 52 week low of $201.51 and a 52 week high of $286.36. The business has a 50-day simple moving average of $262.92 and a 200 day simple moving average of $243.74.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm posted $1.44 earnings per share. salesforce.com’s revenue for the quarter was up 23.1% compared to the same quarter last year. Research analysts expect that salesforce.com, inc. will post 2.09 earnings per share for the current year.

A number of brokerages have recently issued reports on CRM. Evercore ISI lifted their price objective on shares of salesforce.com from $325.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, September 24th. They noted that the move was a valuation call. KGI Securities raised shares of salesforce.com from a “neutral” rating to an “outperform” rating and set a $330.00 price target on the stock in a research report on Thursday, August 26th. Monness Crespi & Hardt boosted their price objective on shares of salesforce.com from $300.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, September 24th. Robert W. Baird reaffirmed a “buy” rating and set a $315.00 price objective on shares of salesforce.com in a research note on Sunday, September 26th. Finally, Truist Securities boosted 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $311.27.

In other news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $238.89, for a total transaction of $4,777,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 5,000 shares of the business’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the sale, the insider now directly owns 68,921 shares of the company’s stock, valued at $17,299,171. The disclosure for this sale can be found here. Insiders have sold 789,178 shares of company stock valued at $203,573,681 over the last three months. Insiders own 4.10% of the company’s stock.

About salesforce.com

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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