Public Employees Retirement Association of Colorado Lowers Position in salesforce.com, inc. (NYSE:CRM)

Public Employees Retirement Association of Colorado lowered its holdings in salesforce.com, inc. (NYSE:CRM) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 963,571 shares of the CRM provider’s stock after selling 2,893 shares during the period. salesforce.com makes up 1.0% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 15th largest position. Public Employees Retirement Association of Colorado owned about 0.10% of salesforce.com worth $235,371,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of salesforce.com by 134.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock valued at $735,824,000 after buying an additional 1,993,259 shares in the last quarter. FIL Ltd raised its holdings in shares of salesforce.com by 204.5% during the 1st quarter. FIL Ltd now owns 2,745,611 shares of the CRM provider’s stock valued at $581,712,000 after buying an additional 1,843,937 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of salesforce.com by 13.3% during the 1st quarter. Nuveen Asset Management LLC now owns 13,065,311 shares of the CRM provider’s stock valued at $2,768,147,000 after buying an additional 1,537,635 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in shares of salesforce.com by 35.6% during the 1st quarter. Vulcan Value Partners LLC now owns 4,222,384 shares of the CRM provider’s stock valued at $894,597,000 after buying an additional 1,107,432 shares in the last quarter. Finally, Amundi Asset Management US Inc. raised its holdings in shares of salesforce.com by 30.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 4,730,369 shares of the CRM provider’s stock valued at $1,002,223,000 after buying an additional 1,091,809 shares in the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Srinivas Tallapragada sold 24,975 shares of the company’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $265.61, for a total transaction of $6,633,609.75. Following the completion of the sale, the insider now owns 38,946 shares in the company, valued at $10,344,447.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction on Friday, September 24th. The shares were sold at an average price of $283.79, for a total value of $5,675,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 789,178 shares of company stock valued at $203,573,681. 4.10% of the stock is owned by company insiders.

Shares of CRM stock traded up $4.95 during mid-day trading on Thursday, hitting $289.36. The company’s stock had a trading volume of 141,549 shares, compared to its average volume of 6,377,344. 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 moving average price of $262.92 and a 200 day moving average price of $243.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $283.28 billion, a price-to-earnings ratio of 116.08, a PEG ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. Equities research analysts predict that salesforce.com, inc. will post 2.09 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the company. Wedbush raised their price objective on salesforce.com from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Stifel Nicolaus lifted their price target on salesforce.com from $315.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Societe Generale lifted their price target on salesforce.com from $290.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. KGI Securities raised salesforce.com from a “neutral” rating to an “outperform” rating and set a $330.00 price target on the stock in a research note on Thursday, August 26th. Finally, Truist Securities lifted their price target on salesforce.com from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $311.27.

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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