ProShare Advisors LLC Grows Stake in salesforce.com, inc. (NYSE:CRM)


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ProShare Advisors LLC grew its holdings in salesforce.com, inc. (NYSE:CRM) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 313,875 shares of the CRM provider’s stock after acquiring an additional 6,846 shares during the quarter. ProShare Advisors LLC’s holdings in salesforce.com were worth $69,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimension Capital Management LLC purchased a new position in shares of salesforce.com in the 3rd quarter valued at about $26,000. Trustcore Financial Services LLC increased its holdings in shares of salesforce.com by 116.9% in the 3rd quarter. Trustcore Financial Services LLC now owns 128 shares of the CRM provider’s stock valued at $32,000 after acquiring an additional 69 shares during the last quarter. First Personal Financial Services purchased a new position in shares of salesforce.com in the 4th quarter valued at about $32,000. Larson Financial Group LLC increased its holdings in shares of salesforce.com by 93.4% in the 4th quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. Finally, Flagship Private Wealth LLC purchased a new position in shares of salesforce.com in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 80.20% of the company’s stock.

NYSE CRM opened at $240.95 on Tuesday. salesforce.com, inc. has a 1-year low of $115.29 and a 1-year high of $284.50. The company has a market capitalization of $220.47 billion, a P/E ratio of 62.91, a PEG ratio of 5.42 and a beta of 1.17. The business has a 50 day moving average price of $229.01 and a 200 day moving average price of $237.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Monday, November 30th. The CRM provider reported $1.74 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.99. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The firm had revenue of $5.42 million during the quarter, compared to the consensus estimate of $5.25 billion. During the same period last year, the business posted $0.75 EPS. salesforce.com’s quarterly revenue was down 99.9% on a year-over-year basis. On average, research analysts expect that salesforce.com, inc. will post 2.81 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on CRM shares. Truist restated a “buy” rating on shares of salesforce.com in a research note on Tuesday, December 1st. Barclays set a $276.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, December 9th. Zacks Investment Research downgraded salesforce.com from a “strong-buy” rating to a “hold” rating and set a $254.00 price target on the stock. in a research note on Tuesday, October 27th. Bank of America restated a “buy” rating and set a $300.00 price target on shares of salesforce.com in a research note on Monday. Finally, Credit Suisse Group raised their price target on salesforce.com from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $264.83.

In other salesforce.com news, insider Srinivas Tallapragada sold 5,000 shares of the firm’s stock in a transaction on Monday, December 7th. The stock was sold at an average price of $227.74, for a total transaction of $1,138,700.00. Following the completion of the transaction, the insider now owns 49,978 shares of the company’s stock, valued at $11,381,989.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joe Allanson sold 313 shares of the firm’s stock in a transaction on Wednesday, December 23rd. The stock was sold at an average price of $229.36, for a total value of $71,789.68. Following the transaction, the chief accounting officer now directly owns 31,439 shares of the company’s stock, valued at approximately $7,210,849.04. The disclosure for this sale can be found here. Insiders sold a total of 73,144 shares of company stock valued at $16,619,830 over the last ninety days. 4.40% of the stock is currently owned by company insiders.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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