Cullinan Associates Inc. Has $7.93 Million Position in salesforce.com, inc. (CRM)

Cullinan Associates Inc. decreased its position in salesforce.com, inc. (NYSE:CRM) by 23.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,855 shares of the CRM provider’s stock after selling 15,310 shares during the period. Cullinan Associates Inc.’s holdings in salesforce.com were worth $7,928,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in salesforce.com by 3.5% during the 2nd quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after acquiring an additional 3,066,099 shares during the period. BlackRock Inc. lifted its stake in salesforce.com by 5.2% during the 2nd quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after acquiring an additional 2,212,408 shares during the period. Morgan Stanley lifted its stake in salesforce.com by 1.5% during the 2nd quarter. Morgan Stanley now owns 14,496,002 shares of the CRM provider’s stock valued at $1,977,256,000 after acquiring an additional 214,578 shares during the period. Northern Trust Corp lifted its stake in salesforce.com by 1.0% during the 2nd quarter. Northern Trust Corp now owns 9,923,734 shares of the CRM provider’s stock valued at $1,353,597,000 after acquiring an additional 98,077 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in salesforce.com by 14.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock valued at $1,027,545,000 after acquiring an additional 961,104 shares during the period. Institutional investors own 82.86% of the company’s stock.

salesforce.com stock traded down $1.76 during midday trading on Friday, hitting $141.08. The stock had a trading volume of 276,695 shares, compared to its average volume of 6,668,914. The firm has a market capitalization of $111.24 billion, a price-to-earnings ratio of 316.80, a P/E/G ratio of 4.83 and a beta of 1.27. salesforce.com, inc. has a 52-week low of $96.11 and a 52-week high of $161.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.24. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. On average, analysts predict that salesforce.com, inc. will post 1.22 EPS for the current year.

In related news, CEO Keith Block sold 2,160 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $146.03, for a total value of $315,424.80. Following the completion of the sale, the chief executive officer now directly owns 23,836 shares of the company’s stock, valued at approximately $3,480,771.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia G. Robbins sold 647 shares of the stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $146.42, for a total transaction of $94,733.74. Following the completion of the sale, the insider now directly owns 1,518 shares of the company’s stock, valued at $222,265.56. The disclosure for this sale can be found here. Over the last three months, insiders purchased 24,000 shares of company stock valued at $3,581,220 and sold 537,576 shares valued at $81,374,673. Corporate insiders own 6.00% of the company’s stock.

Several equities analysts have issued reports on the stock. BMO Capital Markets upgraded shares of salesforce.com to a “top pick” rating in a research note on Friday, June 29th. Piper Jaffray Companies upped their target price on shares of salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 15th. Bank of America upped their target price on shares of salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a research note on Tuesday, August 21st. UBS Group upped their target price on shares of salesforce.com from $153.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Argus upped their target price on shares of salesforce.com from $141.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Six analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $164.85.

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.

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

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