Mackay Shields LLC Has $35.53 Million Position in salesforce.com, inc. (NYSE:CRM)

Mackay Shields LLC trimmed its position in salesforce.com, inc. (NYSE:CRM) by 30.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,466 shares of the CRM provider’s stock after selling 63,696 shares during the quarter. Mackay Shields LLC’s holdings in salesforce.com were worth $35,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlas Private Wealth Advisors raised 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 acquiring an additional 68 shares in the last quarter. First PREMIER Bank acquired a new position in salesforce.com in the 2nd quarter worth about $32,000. Providence Capital Advisors LLC raised its position in salesforce.com by 87.2% in the first quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock valued at $34,000 after purchasing an additional 75 shares during the last quarter. Wagner Wealth Management LLC bought a new stake in shares of salesforce.com during the first quarter worth about $36,000. Finally, Duncker Streett & Co. Inc. raised its holdings in salesforce.com by 35.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock valued at $40,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.

Shares of NYSE:CRM traded up $4.44 during midday trading on Thursday, reaching $288.85. 134,698 shares of the company traded hands, compared to its average volume of 6,377,344. The firm’s fifty day moving average price is $262.92 and its two-hundred day moving average price is $243.74. The firm has a market capitalization of $282.78 billion, a price-to-earnings ratio of 116.08, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. salesforce.com, inc. has a 12 month low of $201.51 and a 12 month high of $286.36.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the business earned $1.44 earnings per share. salesforce.com’s revenue was up 23.1% compared to the same quarter last year. Analysts forecast that salesforce.com, inc. will post 2.09 earnings per share for the current year.

In other salesforce.com news, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $240.56, for a total transaction of $1,034,408.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $274.92, for a total transaction of $5,498,400.00. The disclosure for this sale can be found here. Insiders sold 789,178 shares of company stock valued at $203,573,681 over the last 90 days. 4.10% of the stock is owned by company insiders.

Several research analysts recently issued reports on the company. Cowen reaffirmed a “buy” rating and set a $325.00 target price on shares of salesforce.com in a report on Friday, September 24th. Truist Securities raised their price objective on salesforce.com from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, September 24th. Wolfe Research raised their price objective on salesforce.com from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Jefferies Financial Group set a $325.00 price objective on salesforce.com in a research report on Monday, September 27th. Finally, Credit Suisse Group set a $290.00 price objective on salesforce.com in a research report on Wednesday, September 1st. One investment analyst has rated the stock with a sell rating, seven have assigned 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.com, the company presently has a consensus rating of “Buy” and a consensus price target of $311.27.

salesforce.com Company 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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