Sequoia Financial Advisors LLC Has $8.32 Million Stake in salesforce.com, inc. (NYSE:CRM)

Sequoia Financial Advisors LLC decreased its stake in shares of salesforce.com, inc. (NYSE:CRM) by 25.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 33,107 shares of the CRM provider’s stock after selling 11,237 shares during the period. Sequoia Financial Advisors LLC’s holdings in salesforce.com were worth $8,320,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Sky Investment Group LLC increased its holdings in shares of salesforce.com by 1.2% during the 3rd quarter. Sky Investment Group LLC now owns 3,820 shares of the CRM provider’s stock valued at $960,000 after acquiring an additional 45 shares during the last quarter. Juncture Wealth Strategies LLC grew its holdings in salesforce.com by 1.0% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 4,466 shares of the CRM provider’s stock valued at $1,122,000 after buying an additional 45 shares during the last quarter. Ropes Wealth Advisors LLC grew its holdings in salesforce.com by 1.7% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,037 shares of the CRM provider’s stock valued at $569,000 after buying an additional 52 shares during the last quarter. Norway Savings Bank grew its holdings in salesforce.com by 1.8% in the 2nd quarter. Norway Savings Bank now owns 3,040 shares of the CRM provider’s stock valued at $570,000 after buying an additional 55 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its holdings in salesforce.com by 2.7% in the 3rd quarter. Carroll Financial Associates Inc. now owns 2,174 shares of the CRM provider’s stock valued at $546,000 after buying an additional 57 shares during the last quarter. 81.40% of the stock is currently owned by institutional investors and hedge funds.

CRM traded down $9.84 during trading on Monday, hitting $240.68. The company’s stock had a trading volume of 387,619 shares, compared to its average volume of 4,306,193. The firm’s 50 day moving average price is $251.50 and its two-hundred day moving average price is $201.82. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.07. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $284.50. The stock has a market capitalization of $231.35 billion, a price-to-earnings ratio of 92.96, a price-to-earnings-growth ratio of 8.51 and a beta of 1.27.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 25th. The CRM provider reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.77. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.90 billion. salesforce.com had a return on equity of 3.99% and a net margin of 12.21%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that salesforce.com, inc. will post 1.91 earnings per share for the current year.

A number of analysts have issued reports on CRM shares. Wedbush raised their target price on salesforce.com from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Mizuho raised their price objective on salesforce.com from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. JMP Securities raised their price objective on salesforce.com from $191.00 to $254.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Truist raised their price objective on salesforce.com from $210.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $235.00 price objective (up previously from $220.00) on shares of salesforce.com in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $248.60.

In other salesforce.com news, CFO Mark J. Hawkins sold 8,801 shares of salesforce.com stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $254.20, for a total transaction of $2,237,214.20. Following the transaction, the chief financial officer now directly owns 16,344 shares in the company, valued at $4,154,644.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of salesforce.com stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $193.07, for a total value of $2,896,050.00. Following the transaction, the chief executive officer now owns 29,963,800 shares in the company, valued at $5,785,110,866. The disclosure for this sale can be found here. Insiders sold a total of 724,767 shares of company stock valued at $171,148,885 over the last three months. Insiders own 4.40% of the company’s stock.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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.

Recommended Story: NASDAQ

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.