Triangle Securities Wealth Management Boosts Holdings in salesforce.com, inc. (NYSE:CRM)

Triangle Securities Wealth Management boosted its position in shares of salesforce.com, inc. (NYSE:CRM) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,475 shares of the CRM provider’s stock after buying an additional 113 shares during the quarter. salesforce.com accounts for approximately 1.0% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 28th largest position. Triangle Securities Wealth Management’s holdings in salesforce.com were worth $2,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Joseph P. Lucia & Associates LLC boosted its stake in salesforce.com by 761.5% during the third quarter. Joseph P. Lucia & Associates LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 99 shares during the period. Atlas Private Wealth Advisors boosted its stake in salesforce.com by 115.3% during the second quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock worth $31,000 after buying an additional 68 shares during the period. First PREMIER Bank purchased a new position in salesforce.com during the second quarter worth $32,000. Rosenberg Matthew Hamilton purchased a new position in salesforce.com during the third quarter worth $34,000. Finally, Duncker Streett & Co. Inc. boosted its stake in salesforce.com by 35.8% during the second quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock worth $40,000 after buying an additional 43 shares during the period. 73.41% of the stock is owned by institutional investors.

CRM has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed a “buy” rating and set a $340.00 price objective on shares of salesforce.com in a research note on Thursday, October 21st. Societe Generale boosted their target price on shares of salesforce.com from $290.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, August 27th. Oppenheimer boosted their target price on shares of salesforce.com from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. William Blair reissued a “buy” rating on shares of salesforce.com in a research note on Thursday, August 26th. Finally, Wedbush boosted their target price on shares of salesforce.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $320.59.

In other news, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $253.59, for a total value of $5,071,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 24,975 shares of salesforce.com stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $265.61, for a total value of $6,633,609.75. Following the completion of the transaction, the insider now owns 38,946 shares of the company’s stock, valued at approximately $10,344,447.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 737,826 shares of company stock valued at $205,921,946. 4.10% of the stock is owned by corporate insiders.

Shares of NYSE:CRM opened at $289.17 on Thursday. salesforce.com, inc. has a 1 year low of $201.51 and a 1 year high of $311.75. The firm has a market capitalization of $283.10 billion, a price-to-earnings ratio of 116.13, a price-to-earnings-growth 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 business’s 50 day moving average price is $288.13 and its 200-day moving average price is $259.25.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating 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 the consensus estimate of $6.25 billion. During the same period in the prior year, the company earned $1.44 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, sell-side analysts expect that salesforce.com, inc. will post 2.15 earnings per share for the current year.

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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