Columbia Partners L.L.C. Investment Management trimmed its holdings in salesforce.com, inc. (NYSE:CRM) by 41.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,134 shares of the CRM provider’s stock after selling 7,844 shares during the quarter. Columbia Partners L.L.C. Investment Management’s holdings in salesforce.com were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Karp Capital Management Corp increased its stake in shares of salesforce.com by 4.8% in the 3rd quarter. Karp Capital Management Corp now owns 17,565 shares of the CRM provider’s stock worth $2,794,000 after acquiring an additional 800 shares in the last quarter. Ashmore Wealth Management LLC bought a new position in shares of salesforce.com in the 3rd quarter worth about $31,315,000. Kepos Capital LP bought a new position in shares of salesforce.com in the 3rd quarter worth about $2,865,000. Kornitzer Capital Management Inc. KS increased its stake in salesforce.com by 11.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 228,809 shares of the CRM provider’s stock valued at $36,387,000 after purchasing an additional 23,940 shares in the last quarter. Finally, Bridgewater Associates LP bought a new stake in salesforce.com during the 3rd quarter valued at about $1,952,000. Institutional investors own 82.78% of the company’s stock.
Shares of CRM stock opened at $142.76 on Monday. salesforce.com, inc. has a 52 week low of $98.68 and a 52 week high of $161.19. The company has a market capitalization of $109.21 billion, a PE ratio of 111.53, a P/E/G ratio of 4.34 and a beta of 1.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Equities research analysts anticipate that salesforce.com, inc. will post 1.32 EPS for the current fiscal year.
A number of analysts have weighed in on CRM shares. SunTrust Banks raised their price objective on shares of salesforce.com to $170.00 and gave the company a “positive” rating in a research note on Thursday, August 30th. TheStreet lowered shares of salesforce.com from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Pivotal Research raised their price objective on shares of salesforce.com from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Tuesday, September 4th. Morgan Stanley raised their price objective on shares of salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, August 14th. Finally, Royal Bank of Canada restated a “buy” rating and set a $182.00 price objective on shares of salesforce.com in a research note on Wednesday, November 28th. Four analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the stock. salesforce.com has an average rating of “Buy” and an average target price of $168.08.
In related news, General Counsel Amy E. Weaver sold 5,325 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $152.00, for a total value of $809,400.00. Following the transaction, the general counsel now owns 26,798 shares of the company’s stock, valued at $4,073,296. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $138.49, for a total transaction of $1,384,900.00. The disclosure for this sale can be found here. Insiders sold 495,038 shares of company stock valued at $72,864,126 over the last quarter. Company insiders own 6.00% of the company’s stock.
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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: Institutional Investors
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