salesforce.com, inc. (NYSE:CRM) Stock Holdings Decreased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its stake in salesforce.com, inc. (NYSE:CRM) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 8,657 shares of the CRM provider’s stock after selling 237 shares during the period. DAVENPORT & Co LLC’s holdings in salesforce.com were worth $1,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in salesforce.com during the 1st quarter valued at about $986,207,000. Fisher Asset Management LLC lifted its stake in shares of salesforce.com by 49.6% in the 1st quarter. Fisher Asset Management LLC now owns 10,873,498 shares of the CRM provider’s stock worth $1,565,566,000 after acquiring an additional 3,606,319 shares during the period. Polen Capital Management LLC lifted its stake in shares of salesforce.com by 96.7% in the 1st quarter. Polen Capital Management LLC now owns 6,062,595 shares of the CRM provider’s stock worth $872,892,000 after acquiring an additional 2,980,823 shares during the period. Wellington Management Group LLP lifted its stake in shares of salesforce.com by 18.1% in the 1st quarter. Wellington Management Group LLP now owns 8,906,354 shares of the CRM provider’s stock worth $1,282,336,000 after acquiring an additional 1,364,910 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of salesforce.com in the 1st quarter worth approximately $26,906,000. 81.26% of the stock is owned by institutional investors.

salesforce.com stock opened at $194.85 on Friday. The firm has a market cap of $172.72 billion, a PE ratio of 236.67, a P/E/G ratio of 9.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15. The firm’s 50 day moving average price is $188.62 and its two-hundred day moving average price is $173.36. salesforce.com, inc. has a twelve month low of $115.29 and a twelve month high of $202.82.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.85 billion. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. Equities analysts anticipate that salesforce.com, inc. will post 1.13 EPS for the current fiscal year.

A number of analysts have recently weighed in on CRM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of salesforce.com in a research note on Friday, May 29th. JPMorgan Chase & Co. set a $200.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, May 29th. BMO Capital Markets reduced their price target on shares of salesforce.com from $215.00 to $213.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. Cowen reduced their price target on shares of salesforce.com from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Finally, Cfra upped their price target on shares of salesforce.com from $222.00 to $225.00 and gave the stock a “strong-buy” rating in a research note on Monday, June 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $200.21.

In other salesforce.com news, insider Parker Harris sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $190.94, for a total value of $954,700.00. Following the completion of the sale, the insider now directly owns 66,132 shares of the company’s stock, valued at $12,627,244.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $159.89, for a total transaction of $1,598,900.00. The disclosure for this sale can be found here. Insiders sold 672,077 shares of company stock valued at $123,680,637 over the last three months. Insiders own 4.40% of the company’s stock.

salesforce.com Company 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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