Crosslink Capital Inc. Decreases Holdings in salesforce.com, inc. (NYSE:CRM)

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Crosslink Capital Inc. trimmed its position in shares of salesforce.com, inc. (NYSE:CRM) by 74.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,134 shares of the CRM provider’s stock after selling 42,080 shares during the period. salesforce.com comprises 0.5% of Crosslink Capital Inc.’s investment portfolio, making the stock its 23rd largest position. Crosslink Capital Inc.’s holdings in salesforce.com were worth $2,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Wesbanco Bank Inc. increased its stake in shares of salesforce.com by 1.8% during the second quarter. Wesbanco Bank Inc. now owns 116,923 shares of the CRM provider’s stock valued at $17,741,000 after buying an additional 2,045 shares during the period. BlackRock Inc. increased its stake in shares of salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after buying an additional 2,499,996 shares during the period. Dana Investment Advisors Inc. increased its stake in shares of salesforce.com by 44.2% during the second quarter. Dana Investment Advisors Inc. now owns 51,023 shares of the CRM provider’s stock valued at $7,742,000 after buying an additional 15,636 shares during the period. Blackhawk Capital Partners LLC. increased its stake in shares of salesforce.com by 1.2% during the second quarter. Blackhawk Capital Partners LLC. now owns 14,740 shares of the CRM provider’s stock valued at $2,237,000 after buying an additional 179 shares during the period. Finally, ETRADE Capital Management LLC increased its stake in shares of salesforce.com by 10.1% during the second quarter. ETRADE Capital Management LLC now owns 29,012 shares of the CRM provider’s stock valued at $4,402,000 after buying an additional 2,658 shares during the period. 73.81% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on CRM. Canaccord Genuity boosted their target price on salesforce.com from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. Compass Point set a $193.00 target price on salesforce.com and gave the company a “buy” rating in a research note on Friday, August 23rd. JMP Securities boosted their target price on salesforce.com from $178.00 to $191.00 and gave the company a “market outperform” rating in a research note on Friday, August 23rd. Macquarie boosted their target price on salesforce.com from $184.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, UBS Group set a $190.00 target price on salesforce.com and gave the company a “buy” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $183.82.

salesforce.com stock traded down $1.47 during mid-day trading on Friday, hitting $153.28. The company had a trading volume of 361,391 shares, compared to its average volume of 7,067,063. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $150.03 and its two-hundred day moving average price is $155.64. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56. The company has a market capitalization of $131.24 billion, a PE ratio of 105.71, a price-to-earnings-growth ratio of 5.51 and a beta of 1.24.

salesforce.com (NYSE:CRM) last released its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping 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 business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that salesforce.com, inc. will post 1.25 EPS for the current year.

In other news, Director Craig Conway sold 200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $141.10, for a total transaction of $28,220.00. Following the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $1,411,282.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $153.05, for a total value of $765,250.00. The disclosure for this sale can be found here. Insiders sold 315,614 shares of company stock worth $48,030,737 over the last three months. Corporate insiders own 5.50% of the company’s stock.

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: What is the return on assets (ROA) ratio?

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

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