L & S Advisors Inc Lowers Stock Holdings in salesforce.com, inc. (NYSE:CRM)

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L & S Advisors Inc lowered its stake in shares of salesforce.com, inc. (NYSE:CRM) by 43.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,428 shares of the CRM provider’s stock after selling 10,895 shares during the quarter. L & S Advisors Inc’s holdings in salesforce.com were worth $2,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in salesforce.com by 0.8% in the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock valued at $14,208,366,000 after purchasing an additional 698,321 shares in the last quarter. BlackRock Inc. boosted its holdings in salesforce.com by 4.7% in the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after purchasing an additional 2,499,996 shares in the last quarter. Jennison Associates LLC boosted its holdings in salesforce.com by 8.4% in the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after purchasing an additional 1,673,392 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in salesforce.com by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock valued at $2,009,810,000 after purchasing an additional 1,516,132 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in salesforce.com by 1.8% in the 2nd quarter. Northern Trust Corp now owns 10,879,280 shares of the CRM provider’s stock valued at $1,650,713,000 after purchasing an additional 196,021 shares in the last quarter. 73.81% of the stock is currently owned by hedge funds and other institutional investors.

CRM traded down $1.47 during trading on Friday, hitting $153.28. The company’s stock had a trading volume of 361,391 shares, compared to its average volume of 7,067,063. The firm’s 50 day moving average price is $150.03 and its 200-day moving average price is $155.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $131.24 billion, a PE ratio of 105.71, a PEG ratio of 5.51 and a beta of 1.24. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.57. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm posted $0.71 EPS. salesforce.com’s revenue was up 21.8% on a year-over-year basis. Equities analysts anticipate that salesforce.com, inc. will post 1.25 earnings per share for the current year.

In other news, CAO Joe Allanson sold 168 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $153.88, for a total transaction of $25,851.84. Following the completion of the sale, the chief accounting officer now directly owns 30,641 shares of the company’s stock, valued at approximately $4,715,037.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexandre Dayon sold 1,452 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $155.57, for a total transaction of $225,887.64. Following the sale, the insider now directly owns 50,155 shares of the company’s stock, valued at $7,802,613.35. The disclosure for this sale can be found here. Insiders have sold a total of 315,614 shares of company stock valued at $48,030,737 over the last three months. Corporate insiders own 5.50% of the company’s stock.

A number of brokerages have weighed in on CRM. Stephens set a $184.00 price objective on salesforce.com and gave the company a “buy” rating in a report on Friday, August 23rd. Monness Crespi & Hardt lifted their price objective on salesforce.com from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Credit Suisse Group set a $175.00 price objective on salesforce.com and gave the company a “buy” rating in a report on Wednesday, August 28th. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus lifted their price target on shares of salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $183.82.

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.

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

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