Tower Research Capital LLC TRC Sells 5,919 Shares of salesforce.com, inc. (CRM)

Tower Research Capital LLC TRC cut its stake in shares of salesforce.com, inc. (NYSE:CRM) by 35.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,747 shares of the CRM provider’s stock after selling 5,919 shares during the quarter. Tower Research Capital LLC TRC’s holdings in salesforce.com were worth $1,709,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Botty Investors LLC purchased a new position in salesforce.com in the 3rd quarter worth approximately $123,000. Psagot Investment House Ltd. purchased a new position in salesforce.com in the 3rd quarter worth approximately $134,000. Resources Investment Advisors Inc. lifted its holdings in salesforce.com by 328.2% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after purchasing an additional 965 shares in the last quarter. CWM LLC lifted its holdings in salesforce.com by 95.8% in the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after purchasing an additional 645 shares in the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in salesforce.com in the 3rd quarter worth approximately $193,000. Institutional investors own 83.59% of the company’s stock.

In related news, CAO Joe Allanson sold 323 shares of the stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $122.60, for a total transaction of $39,599.80. Following the sale, the chief accounting officer now owns 30,619 shares in the company, valued at approximately $3,753,889.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wojcicki purchased 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were bought at an average price of $157.57 per share, for a total transaction of $945,420.00. Following the acquisition, the director now directly owns 90,320 shares in the company, valued at approximately $14,231,722.40. The disclosure for this purchase can be found here. Insiders have sold a total of 495,038 shares of company stock worth $72,864,126 in the last 90 days. 6.00% of the stock is currently owned by insiders.

A number of research analysts recently commented on the company. Cowen boosted their price target on salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, September 27th. Credit Suisse Group set a $175.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Thursday, September 27th. Deutsche Bank boosted their price target on salesforce.com from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Piper Jaffray Companies boosted their price target on salesforce.com from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, September 28th. Finally, Robert W. Baird boosted their price target on salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Four equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $168.45.

Shares of CRM opened at $142.76 on Friday. The company has a market cap of $109.21 billion, a PE ratio of 317.24, a PEG ratio of 4.33 and a beta of 1.38. salesforce.com, inc. has a 1 year low of $98.68 and a 1 year high of $161.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.86.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, equities analysts forecast that salesforce.com, inc. will post 1.32 EPS for the current fiscal year.

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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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