salesforce.com, inc. (NYSE:CRM) Position Trimmed by Traverso Chambers Private Wealth Management LLC

Traverso Chambers Private Wealth Management LLC lessened its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 6.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,063 shares of the CRM provider’s stock after selling 70 shares during the period. Traverso Chambers Private Wealth Management LLC’s holdings in salesforce.com were worth $260,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CRM. D.A. Davidson & CO. grew its stake in salesforce.com by 28.9% during the 1st quarter. D.A. Davidson & CO. now owns 20,889 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 4,685 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of salesforce.com by 4.4% in the 1st quarter. Alps Advisors Inc. now owns 17,008 shares of the CRM provider’s stock valued at $3,604,000 after buying an additional 712 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in shares of salesforce.com in the 1st quarter valued at approximately $238,000. Advisors Asset Management Inc. grew its stake in shares of salesforce.com by 2.1% in the 1st quarter. Advisors Asset Management Inc. now owns 31,525 shares of the CRM provider’s stock valued at $6,679,000 after buying an additional 647 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in shares of salesforce.com in the 1st quarter valued at approximately $25,000. 77.33% of the stock is currently owned by institutional investors.

NYSE:CRM traded up $19.36 during trading hours on Thursday, reaching $278.53. The company had a trading volume of 659,827 shares, compared to its average volume of 6,381,478. The stock has a 50-day moving average of $253.02 and a two-hundred day moving average of $237.04. salesforce.com, inc. has a one year low of $201.51 and a one year high of $275.22. The firm has a market capitalization of $272.68 billion, a PE ratio of 111.65, a PEG ratio of 7.35 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The firm had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The business’s revenue was up 23.1% compared to the same quarter last year. As a group, sell-side analysts expect that salesforce.com, inc. will post 2.09 earnings per share for the current year.

In other news, insider Brent Hyder sold 25,362 shares of the company’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $250.00, for a total transaction of $6,340,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 7,300 shares of the company’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $241.22, for a total value of $1,760,906.00. The disclosure for this sale can be found here. Insiders sold 782,686 shares of company stock worth $196,845,176 over the last quarter. Company insiders own 4.10% of the company’s stock.

Several brokerages recently commented on CRM. Redburn Partners began coverage on salesforce.com in a research note on Monday, June 28th. They issued a “buy” rating and a $320.00 price target for the company. They noted that the move was a valuation call. Nord/LB set a $275.00 price target on salesforce.com in a research note on Tuesday, September 14th. UBS Group set a $300.00 price target on salesforce.com in a research note on Wednesday, September 1st. Wedbush boosted their price target on salesforce.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. Finally, William Blair restated a “buy” rating on shares of salesforce.com in a report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, salesforce.com presently has an average rating of “Buy” and a consensus target price of $299.83.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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