salesforce.com, inc. (NYSE:CRM) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. cut its holdings in salesforce.com, inc. (NYSE:CRM) by 36.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 47,540 shares of the CRM provider’s stock after selling 27,330 shares during the period. Twin Capital Management Inc.’s holdings in salesforce.com were worth $7,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CRM. FMR LLC grew its stake in shares of salesforce.com by 0.8% during the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock valued at $14,208,366,000 after buying an additional 698,321 shares during the period. BlackRock Inc. grew its stake in shares of salesforce.com by 4.7% during the 1st quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock valued at $8,498,982,000 after buying an additional 2,395,193 shares during the period. Jennison Associates LLC grew its stake in shares of salesforce.com by 1.2% during the 1st quarter. Jennison Associates LLC now owns 19,902,070 shares of the CRM provider’s stock valued at $3,151,891,000 after buying an additional 230,376 shares during the period. Janus Henderson Group PLC grew its stake in shares of salesforce.com by 12.9% during 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 buying an additional 1,516,132 shares during the period. Finally, Northern Trust Corp grew its stake in shares of salesforce.com by 1.3% during the 1st quarter. Northern Trust Corp now owns 10,683,259 shares of the CRM provider’s stock valued at $1,691,907,000 after buying an additional 140,368 shares during the period. Institutional investors own 82.05% of the company’s stock.

Several brokerages have recently issued reports on CRM. Credit Suisse Group reissued an “outperform” rating on shares of salesforce.com in a research note on Thursday, June 6th. Jefferies Financial Group reissued a “buy” rating and set a $165.00 price objective on shares of salesforce.com in a research note on Friday, August 9th. They noted that the move was a valuation call. Evercore ISI set a $190.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research note on Wednesday, August 7th. Monness Crespi & Hardt reissued a “buy” rating and set a $200.00 price objective (up from $195.00) on shares of salesforce.com in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $181.00 price objective on shares of salesforce.com in a research note on Monday, June 17th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $180.00.

In related news, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $154.97, for a total transaction of $1,549,700.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 620 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $156.09, for a total transaction of $96,775.80. Following the sale, the insider now owns 30,281 shares in the company, valued at approximately $4,726,561.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 309,671 shares of company stock worth $47,578,569. Company insiders own 5.50% of the company’s stock.

Shares of salesforce.com stock traded up $3.20 during trading on Thursday, reaching $142.92. The company had a trading volume of 3,594,857 shares, compared to its average volume of 7,468,685. The firm has a market capitalization of $109.20 billion, a P/E ratio of 98.57, a price-to-earnings-growth ratio of 5.17 and a beta of 1.27. The firm’s fifty day simple moving average is $152.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. 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 issued its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities analysts forecast that salesforce.com, inc. will post 1.25 EPS 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.

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

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