salesforce.com, inc. (NYSE:CRM) Position Trimmed by L & S Advisors Inc

L & S Advisors Inc trimmed its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 43.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,428 shares of the CRM provider’s stock after selling 10,895 shares during the quarter. L & S Advisors Inc’s holdings in salesforce.com were worth $2,189,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Massey Quick Simon & CO. LLC bought a new stake in salesforce.com during the second quarter worth approximately $26,000. Citizens Financial Group Inc RI purchased a new stake in salesforce.com in the 1st quarter worth approximately $27,000. Avestar Capital LLC lifted its position in salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Personal Wealth Partners purchased a new stake in salesforce.com in the 2nd quarter worth approximately $28,000. Finally, Harvest Group Wealth Management LLC purchased a new stake in salesforce.com in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 73.81% of the company’s stock.

NYSE:CRM traded down $1.47 during midday trading on Friday, reaching $153.28. The stock had a trading volume of 361,391 shares, compared to its average volume of 7,067,063. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56. The firm’s fifty day simple moving average is $150.03 and its 200-day simple moving average is $155.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $131.24 billion, a P/E ratio of 105.71, a PEG ratio of 5.51 and a beta of 1.24.

salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the business posted $0.71 EPS. salesforce.com’s revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. They noted that the move was a valuation call. FBN Securities set a $200.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. SunTrust Banks set a $189.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, August 21st. ValuEngine upgraded shares of salesforce.com from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, Compass Point set a $193.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $183.82.

In other salesforce.com news, insider Parker Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $149.85, for a total value of $92,907.00. Following the sale, the insider now directly owns 31,375 shares in the company, valued at approximately $4,701,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $158.94, for a total transaction of $794,700.00. The disclosure for this sale can be found here. Insiders sold a total of 315,614 shares of company stock worth $48,030,737 over the last quarter. 5.50% of the stock is currently owned by company 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.

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

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