TCW Group Inc. Sells 47,280 Shares of salesforce.com, inc. (CRM)

TCW Group Inc. cut its position in shares of salesforce.com, inc. (NYSE:CRM) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,967,097 shares of the CRM provider’s stock after selling 47,280 shares during the quarter. salesforce.com accounts for approximately 2.6% of TCW Group Inc.’s holdings, making the stock its 4th largest position. TCW Group Inc.’s holdings in salesforce.com were worth $312,828,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in salesforce.com by 5.6% in the first quarter. Principal Financial Group Inc. now owns 1,675,716 shares of the CRM provider’s stock valued at $194,886,000 after purchasing an additional 89,171 shares during the period. Summit Trail Advisors LLC grew its holdings in salesforce.com by 7.5% in the first quarter. Summit Trail Advisors LLC now owns 14,309 shares of the CRM provider’s stock valued at $1,815,000 after purchasing an additional 1,001 shares during the period. Neville Rodie & Shaw Inc. grew its holdings in salesforce.com by 13.5% in the second quarter. Neville Rodie & Shaw Inc. now owns 31,886 shares of the CRM provider’s stock valued at $4,349,000 after purchasing an additional 3,785 shares during the period. Gulf International Bank UK Ltd lifted its position in salesforce.com by 2.8% during the second quarter. Gulf International Bank UK Ltd now owns 221,309 shares of the CRM provider’s stock valued at $30,186,000 after buying an additional 6,050 shares in the last quarter. Finally, DnB Asset Management AS lifted its position in salesforce.com by 6.2% during the second quarter. DnB Asset Management AS now owns 82,616 shares of the CRM provider’s stock valued at $11,269,000 after buying an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

A number of research analysts have weighed in on CRM shares. Bank of America lifted their price target on shares of salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a research report on Tuesday, August 21st. Jefferies Financial Group lifted their price target on shares of salesforce.com from $172.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. Piper Jaffray Companies lifted their price target on shares of salesforce.com from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, September 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $178.00 price target on shares of salesforce.com in a research report on Tuesday, October 2nd. Finally, Argus lifted their price target on shares of salesforce.com from $141.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Six analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $165.25.

Shares of NYSE CRM traded down $1.74 during trading on Tuesday, reaching $129.25. 446,605 shares of the stock were exchanged, compared to its average volume of 6,550,491. salesforce.com, inc. has a twelve month low of $98.68 and a twelve month high of $161.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $102.55 billion, a P/E ratio of 288.96, a PEG ratio of 4.46 and a beta of 1.27.

salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.24. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.23 billion. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. On average, research analysts expect that salesforce.com, inc. will post 1.22 EPS for the current fiscal year.

In related news, Chairman Marc Benioff sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $138.69, for a total value of $693,450.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Wojcicki purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average cost of $146.38 per share, for a total transaction of $878,280.00. Following the completion of the acquisition, the director now directly owns 83,426 shares of the company’s stock, valued at $12,211,897.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 18,000 shares of company stock worth $2,703,900 and sold 518,278 shares worth $78,207,613. Corporate insiders own 6.00% of the company’s stock.

About salesforce.com

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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