Huntington National Bank lessened its position in shares of salesforce.com, inc. (NYSE:CRM) by 7.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 41,544 shares of the CRM provider’s stock after selling 3,177 shares during the quarter. Huntington National Bank’s holdings in salesforce.com were worth $7,782,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new stake in salesforce.com in the 1st quarter valued at approximately $28,000. Red Door Wealth Management LLC acquired a new position in shares of salesforce.com in the first quarter worth $29,000. Delta Asset Management LLC TN grew its stake in shares of salesforce.com by 166.7% in the first quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Accurate Investment Solutions Inc. grew its stake in shares of salesforce.com by 632.1% in the first quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 177 shares in the last quarter. Finally, Weaver Consulting Group grew its stake in shares of salesforce.com by 81.2% in the first quarter. Weaver Consulting Group now owns 250 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 112 shares in the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

In other salesforce.com news, CEO Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $159.89, for a total transaction of $1,598,900.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Srinivas Tallapragada sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.50, for a total transaction of $832,500.00. Following the transaction, the insider now directly owns 42,176 shares in the company, valued at approximately $7,022,304. The disclosure for this sale can be found here. Insiders sold 672,077 shares of company stock worth $123,680,637 over the last quarter. Company insiders own 4.40% of the company’s stock.

Several equities analysts have commented on the stock. Credit Suisse Group restated a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a research note on Friday, May 29th. Piper Sandler lifted their price objective on shares of salesforce.com from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. BMO Capital Markets decreased their price objective on shares of salesforce.com from $215.00 to $213.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Oppenheimer lifted their price objective on shares of salesforce.com from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. Finally, Cfra lifted their price objective on shares of salesforce.com from $222.00 to $225.00 and gave the stock a “strong-buy” rating in a research report on Monday, June 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $200.21.

Shares of CRM stock traded up $3.15 during trading hours on Friday, hitting $194.85. The company’s stock had a trading volume of 3,734,611 shares, compared to its average volume of 4,551,268. The business has a fifty day moving average of $188.62 and a 200-day moving average of $173.36. The stock has a market cap of $172.72 billion, a price-to-earnings ratio of -1,082.50, a P/E/G ratio of 9.46 and a beta of 1.08. salesforce.com, inc. has a twelve month low of $115.29 and a twelve month high of $202.82. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.85 billion. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 earnings per share. On average, equities analysts expect that salesforce.com, inc. will post 1.13 EPS for the current fiscal year.

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: 52-week highs

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

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