salesforce.com, inc. (CRM) Position Lowered by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB cut its position in shares of salesforce.com, inc. (NYSE:CRM) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,178 shares of the CRM provider’s stock after selling 5,041 shares during the period. salesforce.com makes up 0.9% of Xact Kapitalforvaltning AB’s portfolio, making the stock its 24th largest holding. Xact Kapitalforvaltning AB’s holdings in salesforce.com were worth $18,635,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Empirical Finance LLC purchased a new stake in salesforce.com in the 3rd quarter valued at about $204,000. First Citizens Bank & Trust Co. boosted its position in salesforce.com by 3.2% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 21,531 shares of the CRM provider’s stock valued at $3,424,000 after buying an additional 673 shares during the period. Huntington National Bank boosted its position in salesforce.com by 50.0% in the 3rd quarter. Huntington National Bank now owns 42,035 shares of the CRM provider’s stock valued at $6,684,000 after buying an additional 14,006 shares during the period. Strategic Advisors LLC boosted its position in salesforce.com by 15.8% in the 3rd quarter. Strategic Advisors LLC now owns 3,795 shares of the CRM provider’s stock valued at $604,000 after buying an additional 519 shares during the period. Finally, Oakbrook Investments LLC boosted its position in salesforce.com by 1,171.7% in the 3rd quarter. Oakbrook Investments LLC now owns 37,336 shares of the CRM provider’s stock valued at $5,938,000 after buying an additional 34,400 shares during the period. 82.86% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CRM traded up $2.24 during trading hours on Friday, hitting $145.08. 10,608 shares of the stock were exchanged, compared to its average volume of 6,668,914. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market cap of $111.24 billion, a PE ratio of 322.20, a price-to-earnings-growth ratio of 4.83 and a beta of 1.27. salesforce.com, inc. has a 12 month low of $96.11 and a 12 month high of $161.19.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.47 by $0.24. The firm 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%. salesforce.com’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $146.86, for a total transaction of $734,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $148.44, for a total transaction of $1,484,400.00. Following the transaction, the insider now owns 30,647 shares in the company, valued at approximately $4,549,240.68. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 24,000 shares of company stock valued at $3,581,220 and have sold 537,576 shares valued at $81,374,673. Insiders own 6.00% of the company’s stock.

Several equities research analysts have issued reports on CRM shares. SunTrust Banks boosted their price objective on shares of salesforce.com to $170.00 and gave the company a “positive” rating in a research report on Thursday, August 30th. Pivotal Research boosted their price objective on shares of salesforce.com from $120.00 to $140.00 and gave the company a “hold” rating in a research report on Tuesday, September 4th. Morgan Stanley boosted their price objective on shares of salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research report on Tuesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of salesforce.com to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th. Finally, Robert W. Baird upped their price target on shares of salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Six equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $164.85.

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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