IFM Investors Pty Ltd Has $18.63 Million Stake in salesforce.com, inc. (NYSE:CRM)

IFM Investors Pty Ltd raised its position in salesforce.com, inc. (NYSE:CRM) by 20.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 74,136 shares of the CRM provider’s stock after purchasing an additional 12,409 shares during the period. salesforce.com accounts for approximately 0.8% of IFM Investors Pty Ltd’s portfolio, making the stock its 19th largest position. IFM Investors Pty Ltd’s holdings in salesforce.com were worth $18,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Sanders Morris Harris LLC increased its stake in salesforce.com by 396.5% during the 3rd quarter. Sanders Morris Harris LLC now owns 6,142 shares of the CRM provider’s stock valued at $1,638,000 after purchasing an additional 4,905 shares in the last quarter. Mission Wealth Management LP increased its stake in salesforce.com by 3.5% during the 3rd quarter. Mission Wealth Management LP now owns 5,024 shares of the CRM provider’s stock valued at $1,263,000 after purchasing an additional 169 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in salesforce.com during the 3rd quarter valued at $289,000. Juncture Wealth Strategies LLC increased its stake in salesforce.com by 1.0% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 4,466 shares of the CRM provider’s stock valued at $1,122,000 after purchasing an additional 45 shares in the last quarter. Finally, Arden Trust Co increased its stake in salesforce.com by 33.3% during the 3rd quarter. Arden Trust Co now owns 6,986 shares of the CRM provider’s stock valued at $1,756,000 after purchasing an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 81.40% of the company’s stock.

Shares of CRM stock traded up $0.83 during trading on Friday, hitting $258.55. The company had a trading volume of 3,098,043 shares, compared to its average volume of 7,123,797. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $254.10 and its two-hundred day moving average is $197.75. The stock has a market capitalization of $235.28 billion, a price-to-earnings ratio of 101.00, a price-to-earnings-growth ratio of 7.78 and a beta of 1.27. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $284.50.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, August 25th. The CRM provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.77. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis. On average, research analysts predict that salesforce.com, inc. will post 1.91 EPS for the current fiscal year.

In other salesforce.com news, COO Bret Steven Taylor sold 1,500 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $189.95, for a total transaction of $284,925.00. Following the transaction, the chief operating officer now directly owns 1,033,006 shares in the company, valued at $196,219,489.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $275.29, for a total transaction of $1,376,450.00. Following the transaction, the insider now owns 66,955 shares in the company, valued at $18,432,041.95. The disclosure for this sale can be found here. Insiders have sold 731,193 shares of company stock worth $167,388,606 over the last quarter. Company insiders own 4.40% of the company’s stock.

A number of analysts have commented on CRM shares. Cowen boosted their price target on shares of salesforce.com from $210.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Truist upped their target price on shares of salesforce.com from $210.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Canaccord Genuity upped their target price on shares of salesforce.com from $200.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Loop Capital upped their target price on shares of salesforce.com from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Wednesday, August 26th. Finally, Oppenheimer upped their target price on shares of salesforce.com from $205.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $246.31.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. 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.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.