salesforce.com, inc. (NYSE:CRM) Stock Holdings Trimmed by Van ECK Associates Corp

Van ECK Associates Corp lowered its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,562 shares of the CRM provider’s stock after selling 45,418 shares during the period. Van ECK Associates Corp owned approximately 0.06% of salesforce.com worth $76,247,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its position in shares of salesforce.com by 7.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 370,766 shares of the CRM provider’s stock worth $60,302,000 after purchasing an additional 25,353 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of salesforce.com during the fourth quarter worth $59,000. CIBC Private Wealth Group LLC raised its position in shares of salesforce.com by 34.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 83,059 shares of the CRM provider’s stock worth $13,508,000 after purchasing an additional 21,468 shares during the period. CFM Wealth Partners LLC acquired a new stake in shares of salesforce.com during the fourth quarter worth $6,251,000. Finally, Putnam FL Investment Management Co. raised its position in shares of salesforce.com by 6.7% during the fourth quarter. Putnam FL Investment Management Co. now owns 16,941 shares of the CRM provider’s stock worth $2,755,000 after purchasing an additional 1,059 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

CRM has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on salesforce.com from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Cowen lowered their price target on salesforce.com from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Needham & Company LLC reiterated a “hold” rating on shares of salesforce.com in a report on Friday. Jefferies Financial Group reiterated a “buy” rating and set a $205.00 price target on shares of salesforce.com in a report on Tuesday, May 19th. Finally, BMO Capital Markets lowered their price target on salesforce.com from $215.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and an average price target of $198.26.

CRM stock traded down $0.76 during midday trading on Monday, hitting $174.03. 198,872 shares of the company traded hands, compared to its average volume of 6,909,155. salesforce.com, inc. has a twelve month low of $115.29 and a twelve month high of $195.72. The company has a quick ratio of 1.08, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. The business has a 50 day simple moving average of $164.89 and a 200-day simple moving average of $166.29. The stock has a market capitalization of $157.12 billion, a price-to-earnings ratio of -964.72, a price-to-earnings-growth ratio of 8.01 and a beta of 1.08.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities research analysts forecast that salesforce.com, inc. will post 1.21 EPS for the current year.

In other news, Director Craig Conway sold 225 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $131.00, for a total value of $29,475.00. Following the sale, the director now owns 10,165 shares in the company, valued at $1,331,615. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Amy E. Weaver sold 2,277 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $139.86, for a total transaction of $318,461.22. Following the completion of the sale, the insider now owns 32,235 shares in the company, valued at approximately $4,508,387.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 388,754 shares of company stock worth $61,473,561. 4.40% of the stock is currently owned by corporate insiders.

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.

Further Reading: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

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

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