salesforce.com, inc. (NYSE:CRM) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC lessened its stake in salesforce.com, inc. (NYSE:CRM) by 51.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,373 shares of the CRM provider’s stock after selling 1,427 shares during the quarter. Principal Street Partners LLC’s holdings in salesforce.com were worth $372,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Rafferty Asset Management LLC lifted its holdings in shares of salesforce.com by 23.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 195,256 shares of the CRM provider’s stock valued at $52,957,000 after buying an additional 36,876 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of salesforce.com by 20.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 15,573 shares of the CRM provider’s stock valued at $4,224,000 after buying an additional 2,672 shares during the period. Pictet & Cie Europe SA lifted its holdings in shares of salesforce.com by 30.6% in the 3rd quarter. Pictet & Cie Europe SA now owns 296,227 shares of the CRM provider’s stock valued at $80,343,000 after buying an additional 69,414 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in salesforce.com by 3.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 188,443 shares of the CRM provider’s stock worth $51,110,000 after purchasing an additional 6,373 shares during the period. Finally, Forsta AP Fonden raised its holdings in salesforce.com by 34.7% in the 3rd quarter. Forsta AP Fonden now owns 216,147 shares of the CRM provider’s stock worth $58,623,000 after purchasing an additional 55,647 shares during the period. 76.46% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on CRM shares. Oppenheimer upped their price target on salesforce.com from $290.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, September 24th. Monness Crespi & Hardt upped their price target on salesforce.com from $300.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Citigroup upped their price target on salesforce.com from $280.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, November 23rd. Barclays set a $348.00 price target on salesforce.com in a report on Wednesday, December 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $315.00 price target on shares of salesforce.com in a report on Sunday, September 26th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, salesforce.com presently has a consensus rating of “Buy” and an average price target of $324.21.

Shares of salesforce.com stock opened at $230.62 on Friday. The firm has a market capitalization of $227.16 billion, a price-to-earnings ratio of 126.32, a PEG ratio of 5.87 and a beta of 1.06. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $311.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average of $268.61 and a 200 day moving average of $264.92.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 30th. The CRM provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.35. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.80 billion. salesforce.com had a return on equity of 5.71% and a net margin of 6.96%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. Analysts forecast that salesforce.com, inc. will post 2.42 EPS for the current year.

In other news, insider Srinivas Tallapragada sold 20,000 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $307.11, for a total value of $6,142,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $237.96, for a total value of $547,308.00. The disclosure for this sale can be found here. Insiders have sold 364,409 shares of company stock worth $103,902,231 over the last 90 days. 4.10% of the stock is owned by insiders.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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