Rock Creek Group LP Has $295,000 Stake in salesforce.com, inc. (NYSE:CRM)

Rock Creek Group LP boosted its stake in salesforce.com, inc. (NYSE:CRM) by 134.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,208 shares of the CRM provider’s stock after buying an additional 693 shares during the period. Rock Creek Group LP’s holdings in salesforce.com were worth $295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its holdings in salesforce.com by 3.6% in the second quarter. Fisher Asset Management LLC now owns 13,420,800 shares of the CRM provider’s stock valued at $3,278,299,000 after purchasing an additional 467,815 shares during the period. Geode Capital Management LLC increased its holdings in salesforce.com by 1.4% in the first quarter. Geode Capital Management LLC now owns 13,275,658 shares of the CRM provider’s stock valued at $2,804,029,000 after purchasing an additional 179,896 shares during the period. Nuveen Asset Management LLC grew its holdings in 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 worth $2,768,147,000 after acquiring an additional 1,537,635 shares during the period. Northern Trust Corp grew its holdings in salesforce.com by 1.8% during the 1st quarter. Northern Trust Corp now owns 12,653,030 shares of the CRM provider’s stock worth $2,680,798,000 after acquiring an additional 223,357 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in salesforce.com by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 9,378,559 shares of the CRM provider’s stock worth $1,987,033,000 after acquiring an additional 24,778 shares during the period. Institutional investors and hedge funds own 77.33% of the company’s stock.

A number of brokerages have weighed in on CRM. Piper Sandler increased their price target on salesforce.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, August 26th. Jefferies Financial Group began coverage on salesforce.com in a report on Monday, August 23rd. They set a “buy” rating and a $300.00 price target for the company. Zacks Investment Research downgraded salesforce.com from a “hold” rating to a “sell” rating and set a $273.00 target price for the company. in a research note on Wednesday, August 25th. BMO Capital Markets lifted their target price on shares of salesforce.com from $280.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Finally, Oppenheimer lifted their price target on shares of salesforce.com from $265.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $298.33.

In other news, CAO Joe Allanson sold 151 shares of the stock in a transaction on Monday, July 26th. The shares were sold at an average price of $248.00, for a total value of $37,448.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 5,000 shares of the stock in a transaction on Monday, August 9th. The stock was sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the completion of 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. Over the last three months, insiders sold 776,356 shares of company stock valued at $194,260,597. Corporate insiders own 4.10% of the company’s stock.

CRM opened at $254.37 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. salesforce.com, inc. has a 1-year low of $201.51 and a 1-year high of $275.22. The company has a market capitalization of $249.03 billion, a PE ratio of 102.16, a PEG ratio of 7.35 and a beta of 1.09. The firm’s 50 day simple moving average is $251.35 and its two-hundred day simple moving average is $235.19.

salesforce.com (NYSE:CRM) last released 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 net margin of 9.99% and a return on equity of 7.15%. The business had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the firm earned $1.44 earnings per share. The company’s quarterly revenue was up 23.1% on a year-over-year basis. Equities analysts forecast that salesforce.com, inc. will post 2.09 earnings per share for the current fiscal 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.

Recommended Story: What economic reports are most valuable to investors?

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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.