Salesforce.com Inc (CRM) Stake Lowered by Eqis Capital Management Inc.

Eqis Capital Management Inc. lowered its stake in shares of Salesforce.com Inc (NYSE:CRM) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,106 shares of the CRM provider’s stock after selling 791 shares during the period. Eqis Capital Management Inc.’s holdings in Salesforce.com were worth $356,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. acquired a new stake in Salesforce.com during the second quarter valued at approximately $9,337,000. Chesley Taft & Associates LLC boosted its stake in shares of Salesforce.com by 2.8% in the second quarter. Chesley Taft & Associates LLC now owns 71,129 shares of the CRM provider’s stock valued at $6,160,000 after buying an additional 1,950 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Salesforce.com by 2.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 577,814 shares of the CRM provider’s stock valued at $50,039,000 after buying an additional 11,335 shares in the last quarter. National Pension Service boosted its stake in shares of Salesforce.com by 10.0% in the second quarter. National Pension Service now owns 523,115 shares of the CRM provider’s stock valued at $45,406,000 after buying an additional 47,714 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Salesforce.com by 61.8% in the second quarter. Fisher Asset Management LLC now owns 461,804 shares of the CRM provider’s stock valued at $39,992,000 after buying an additional 176,449 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of Salesforce.com Inc (CRM) traded down 0.13% on Friday, reaching $90.76. The company’s stock had a trading volume of 3,046,785 shares. The firm has a 50 day moving average price of $89.63 and a 200-day moving average price of $86.11. The stock has a market cap of $64.64 billion, a PE ratio of 480.21 and a beta of 1.29. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $92.49.

Salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. Salesforce.com’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Equities research analysts expect that Salesforce.com Inc will post $1.30 EPS for the current year.

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Several equities research analysts have recently weighed in on CRM shares. Barclays PLC upped their price target on Salesforce.com from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Credit Suisse Group started coverage on Salesforce.com in a research report on Thursday, April 27th. They set an “outperform” rating and a $110.00 price target on the stock. Benchmark Co. started coverage on Salesforce.com in a research report on Thursday, April 27th. They set an “outperform” rating and a $100.00 price target on the stock. Zacks Investment Research cut Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Sunday, May 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $97.31.

In related news, insider Parker Harris sold 8,027 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $90.76, for a total value of $728,530.52. Following the completion of the sale, the insider now owns 49,913 shares of the company’s stock, valued at $4,530,103.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $88.46, for a total value of $884,600.00. Following the sale, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at approximately $3,024,916,238. The disclosure for this sale can be found here. Insiders have sold 1,333,410 shares of company stock worth $119,961,863 in the last quarter. 6.70% of the stock is currently owned by company insiders.

Salesforce.com Company Profile

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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

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