MidWestOne Financial Group Inc. Acquires 562 Shares of salesforce.com, inc. (NYSE:CRM)

MidWestOne Financial Group Inc. raised its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,055 shares of the CRM provider’s stock after acquiring an additional 562 shares during the period. MidWestOne Financial Group Inc.’s holdings in salesforce.com were worth $1,134,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC raised its position in shares of salesforce.com by 79.7% during the 2nd quarter. Cerity Partners LLC now owns 46,655 shares of the CRM provider’s stock valued at $8,739,000 after acquiring an additional 20,697 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of salesforce.com by 1.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 471,890 shares of the CRM provider’s stock valued at $88,399,000 after acquiring an additional 8,993 shares during the last quarter. Covenant Partners LLC raised its position in shares of salesforce.com by 29.7% during the 2nd quarter. Covenant Partners LLC now owns 3,929 shares of the CRM provider’s stock valued at $736,000 after acquiring an additional 899 shares during the last quarter. Level Four Advisory Services LLC raised its position in shares of salesforce.com by 79.0% during the 2nd quarter. Level Four Advisory Services LLC now owns 26,943 shares of the CRM provider’s stock valued at $5,049,000 after acquiring an additional 11,888 shares during the last quarter. Finally, Toroso Investments LLC grew its holdings in shares of salesforce.com by 54.1% in the 2nd quarter. Toroso Investments LLC now owns 8,790 shares of the CRM provider’s stock valued at $1,647,000 after buying an additional 3,085 shares during the period. Institutional investors own 81.40% of the company’s stock.

In other salesforce.com news, CAO Joe Allanson sold 218 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $191.71, for a total transaction of $41,792.78. Following the transaction, the chief accounting officer now owns 31,559 shares in the company, valued at approximately $6,050,175.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $251.90, for a total transaction of $3,778,500.00. Following the transaction, the chief executive officer now owns 29,493,800 shares in the company, valued at approximately $7,429,488,220. The disclosure for this sale can be found here. Over the last three months, insiders sold 822,922 shares of company stock worth $167,376,305. Insiders own 4.40% of the company’s stock.

Several brokerages have recently issued reports on CRM. Raymond James boosted their price target on shares of salesforce.com from $230.00 to $255.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 26th. Stifel Nicolaus boosted their price target on shares of salesforce.com from $220.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. BMO Capital Markets boosted their price target on shares of salesforce.com from $213.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Credit Suisse Group set a $245.00 price target on shares of salesforce.com and gave the company a “buy” rating in a report on Tuesday, September 1st. 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $243.60.

Shares of CRM stock traded down $4.70 on Friday, reaching $243.10. The stock had a trading volume of 5,452,620 shares, compared to its average volume of 7,456,896. The firm has a market capitalization of $227.89 billion, a price-to-earnings ratio of 94.96, a P/E/G ratio of 7.30 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.07. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $284.50. The firm’s 50-day moving average is $219.08 and its two-hundred day moving average is $181.62.

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

About salesforce.com

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: How Do You Calculate Return on Equity (ROE)?

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

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