Cpwm LLC cut its stake in shares of salesforce.com, inc. (NYSE:CRM) by 50.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,619 shares of the CRM provider’s stock after selling 1,660 shares during the quarter. Cpwm LLC’s holdings in salesforce.com were worth $257,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Botty Investors LLC acquired a new position in shares of salesforce.com during the third quarter worth $123,000. Psagot Investment House Ltd. acquired a new position in shares of salesforce.com during the third quarter worth $134,000. Resources Investment Advisors Inc. increased its holdings in shares of salesforce.com by 328.2% during the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after buying an additional 965 shares in the last quarter. United Capital Management of KS Inc. acquired a new position in shares of salesforce.com during the third quarter worth $193,000. Finally, Sky Investment Group LLC acquired a new position in shares of salesforce.com during the third quarter worth $204,000. Institutional investors own 82.78% of the company’s stock.

CRM has been the subject of several research analyst reports. SunTrust Banks upped their price target on shares of salesforce.com to $170.00 and gave the stock a “positive” rating in a report on Thursday, August 30th. TheStreet downgraded salesforce.com from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Pivotal Research increased their price objective on salesforce.com from $120.00 to $140.00 and gave the company a “hold” rating in a report on Tuesday, September 4th. Morgan Stanley increased their price objective on salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a report on Tuesday, August 14th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $182.00 price objective on shares of salesforce.com in a report on Wednesday, November 28th. Four analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $168.08.

Shares of salesforce.com stock opened at $135.95 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. salesforce.com, inc. has a 1-year low of $101.32 and a 1-year high of $161.19. The stock has a market cap of $108.68 billion, a price-to-earnings ratio of 110.98, a price-to-earnings-growth ratio of 4.32 and a beta of 1.42.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same period last year, the business posted $0.39 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts forecast that salesforce.com, inc. will post 1.32 earnings per share for the current year.

In other news, insider Parker Harris sold 5,711 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $152.69, for a total transaction of $872,012.59. Following the transaction, the insider now owns 27,938 shares of the company’s stock, valued at approximately $4,265,853.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy E. Weaver sold 5,325 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $154.86, for a total transaction of $824,629.50. Following the transaction, the insider now directly owns 26,798 shares in the company, valued at approximately $4,149,938.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,322 shares of company stock valued at $71,467,243. Company insiders own 6.00% of the company’s stock.

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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: Coverage Ratio

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

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