Salesforce.com Inc (CRM) Position Cut by TCW Group Inc.

TCW Group Inc. cut its position in shares of Salesforce.com Inc (NYSE:CRM) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,683,774 shares of the CRM provider’s stock after selling 114,341 shares during the quarter. Salesforce.com accounts for 2.0% of TCW Group Inc.’s investment portfolio, making the stock its 6th biggest holding. TCW Group Inc. owned approximately 0.37% of Salesforce.com worth $250,718,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital Analysts LLC increased its position in Salesforce.com by 14.1% during the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after buying an additional 156 shares in the last quarter. Peddock Capital Advisors LLC increased its position in Salesforce.com by 3,000.0% during the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after buying an additional 1,350 shares in the last quarter. People s United Financial Inc. increased its position in Salesforce.com by 60.1% during the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after buying an additional 550 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Salesforce.com during the second quarter worth $130,000. Finally, First Personal Financial Services increased its position in Salesforce.com by 1.6% during the second quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock worth $142,000 after buying an additional 25 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

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Salesforce.com Inc (NYSE CRM) traded up $0.41 on Tuesday, hitting $106.19. The stock had a trading volume of 1,514,827 shares, compared to its average volume of 4,365,178. The stock has a market capitalization of $75,635.98, a price-to-earnings ratio of 526.20, a P/E/G ratio of 10.44 and a beta of 1.24. Salesforce.com Inc has a one year low of $66.43 and a one year high of $105.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77.

Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. equities analysts expect that Salesforce.com Inc will post 0.4 earnings per share for the current year.

Several research firms have weighed in on CRM. Mizuho reissued a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Salesforce.com in a research report on Monday. Robert W. Baird reissued a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Salesforce.com in a research report on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and set a $111.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Thursday, August 24th. Finally, UBS AG reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and forty-six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $107.37.

In other Salesforce.com news, Vice Chairman Keith Block sold 10,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $103.74, for a total transaction of $1,037,400.00. Following the transaction, the insider now directly owns 24,154 shares of the company’s stock, valued at $2,505,735.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexandre Dayon sold 124,331 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $99.00, for a total transaction of $12,308,769.00. Following the transaction, the insider now directly owns 154,406 shares in the company, valued at $15,286,194. The disclosure for this sale can be found here. Insiders sold 525,667 shares of company stock worth $51,069,184 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

About Salesforce.com

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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

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