Trade Report: Today: US Bancorp DE Reduces stake in Salesforce.com Inc. (CRM)

Today: US Bancorp DE Reduces stake in Salesforce.com Inc. (CRM)

US Bancorp DE lowered its stake in Salesforce.com Inc. (NYSE:CRM) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,184 shares of the CRM provider’s stock after selling 3,167 shares during the period. US Bancorp DE’s holdings in Salesforce.com were worth $15,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Signaturefd LLC boosted its position in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares in the last quarter. M&R Capital Management Inc. purchased a new position in Salesforce.com during the second quarter valued at $119,000. NEXT Financial Group Inc boosted its position in Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock valued at $125,000 after buying an additional 39 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock valued at $143,000 after buying an additional 1,009 shares in the last quarter. Finally, Mycio Wealth Partners LLC boosted its position in Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares in the last quarter. 85.24% of the stock is owned by institutional investors.

Salesforce.com Inc. (NYSE:CRM) traded down 1.00% on Monday, hitting $72.99. 2,778,365 shares of the stock were exchanged. The company has a 50-day moving average of $74.26 and a 200 day moving average of $77.55. The firm has a market cap of $50.40 billion, a P/E ratio of 247.42 and a beta of 1.55. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48.

Salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts expect that Salesforce.com Inc. will post $0.98 earnings per share for the current fiscal year.

Several analysts recently issued reports on CRM shares. Cowen and Company reiterated a “buy” rating on shares of Salesforce.com in a report on Sunday, November 20th. DA Davidson set a $86.00 target price on Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. FBN Securities set a $90.00 price objective on Salesforce.com and gave the company a “buy” rating in a research note on Sunday, September 4th. Rosenblatt Securities set a $90.00 price objective on Salesforce.com and gave the company a “buy” rating in a research note on Saturday, November 19th. Finally, Raymond James Financial Inc. set a $105.00 price objective on Salesforce.com and gave the company a “buy” rating in a research note on Sunday, September 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and forty-two have assigned a buy rating to the stock. Salesforce.com presently has an average rating of “Buy” and a consensus price target of $92.05.

In other Salesforce.com news, insider Parker Harris sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $79.68, for a total value of $398,400.00. Following the transaction, the insider now directly owns 39,467 shares in the company, valued at $3,144,730.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Marc Benioff sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $79.80, for a total transaction of $1,995,000.00. Following the completion of the transaction, the chairman now owns 35,383,000 shares in the company, valued at $2,823,563,400. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

About Salesforce.com

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

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