Hollencrest Capital Management Lowers Stock Position in salesforce.com, inc. (NYSE:CRM)

Hollencrest Capital Management lessened its stake in shares of salesforce.com, inc. (NYSE:CRM) by 7.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,175 shares of the CRM provider’s stock after selling 618 shares during the quarter. Hollencrest Capital Management’s holdings in salesforce.com were worth $1,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Avondale Wealth Management lifted its stake in salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Citizens Financial Group Inc RI acquired a new stake in shares of salesforce.com during the 1st quarter worth approximately $27,000. CX Institutional boosted its stake in salesforce.com by 426.5% in the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after buying an additional 145 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

In related news, insider Mark J. Hawkins sold 846 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.01, for a total transaction of $140,444.46. Following the sale, the insider now owns 20,316 shares in the company, valued at $3,372,659.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joe Allanson sold 168 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $153.88, for a total value of $25,851.84. Following the sale, the chief accounting officer now owns 30,641 shares in the company, valued at approximately $4,715,037.08. The disclosure for this sale can be found here. Insiders have sold 342,055 shares of company stock valued at $53,295,533 over the last ninety days. 5.50% of the stock is owned by insiders.

Several brokerages recently commented on CRM. UBS Group set a $210.00 price target on Alibaba Group and gave the company a “buy” rating in a research note on Tuesday, June 11th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and set a GBX 150 ($1.96) target price on shares of in a research report on Monday, June 17th. Monness Crespi & Hardt restated a “buy” rating and set a $200.00 target price (up previously from $195.00) on shares of salesforce.com in a research report on Wednesday, June 5th. Finally, Nomura decreased their price objective on Capri from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $180.11.

Shares of CRM stock traded down $0.21 on Monday, hitting $159.76. 23,003 shares of the stock were exchanged, compared to its average volume of 4,628,237. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $124.14 billion, a price-to-earnings ratio of 109.51, a P/E/G ratio of 5.88 and a beta of 1.29. The business has a 50-day moving average of $154.95. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. salesforce.com’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, equities research analysts expect that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

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.

Read More: What is the return on assets formula?

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.