Cambridge Trust Co. Cuts Stake in salesforce.com, inc. (CRM)

Cambridge Trust Co. lessened its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 250,574 shares of the CRM provider’s stock after selling 7,650 shares during the quarter. salesforce.com makes up 2.4% of Cambridge Trust Co.’s investment portfolio, making the stock its 9th biggest holding. Cambridge Trust Co.’s holdings in salesforce.com were worth $34,321,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Dearborn Partners LLC lifted its holdings in shares of salesforce.com by 3.1% during the fourth quarter. Dearborn Partners LLC now owns 5,799 shares of the CRM provider’s stock worth $794,000 after purchasing an additional 175 shares during the period. Blackhawk Capital Partners LLC. acquired a new position in shares of salesforce.com during the fourth quarter worth $1,996,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of salesforce.com during the fourth quarter worth $28,000. Regal Investment Advisors LLC lifted its holdings in shares of salesforce.com by 846.7% during the fourth quarter. Regal Investment Advisors LLC now owns 15,033 shares of the CRM provider’s stock worth $2,059,000 after purchasing an additional 13,445 shares during the period. Finally, Twin Capital Management Inc. lifted its holdings in shares of salesforce.com by 14.9% during the fourth quarter. Twin Capital Management Inc. now owns 74,825 shares of the CRM provider’s stock worth $10,249,000 after purchasing an additional 9,685 shares during the period. Institutional investors own 82.23% of the company’s stock.

A number of equities analysts have recently commented on CRM shares. Zacks Investment Research reiterated a “hold” rating on shares of salesforce.com in a report on Monday, November 12th. TheStreet raised shares of salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Stephens assumed coverage on shares of salesforce.com in a research note on Wednesday, January 16th. They set an “overweight” rating and a $183.00 target price for the company. Atlantic Securities assumed coverage on shares of salesforce.com in a research note on Wednesday, January 9th. They set an “overweight” rating and a $179.00 target price for the company. Finally, Nomura assumed coverage on shares of salesforce.com in a research note on Monday, October 29th. They set a “buy” rating and a $181.00 target price for the company. Three research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $170.38.

In other salesforce.com news, CAO Joe Allanson sold 323 shares of salesforce.com stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $122.60, for a total value of $39,599.80. Following the completion of the sale, the chief accounting officer now directly owns 30,619 shares of the company’s stock, valued at $3,753,889.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 362 shares of salesforce.com stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $149.15, for a total transaction of $53,992.30. Following the completion of the sale, the insider now directly owns 1,517 shares of the company’s stock, valued at $226,260.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 531,829 shares of company stock valued at $73,328,115. Insiders own 6.00% of the company’s stock.

CRM opened at $156.67 on Friday. salesforce.com, inc. has a 1-year low of $102.37 and a 1-year high of $161.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $119.85 billion, a price-to-earnings ratio of 348.16, a P/E/G ratio of 5.08 and a beta of 1.37.

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

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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: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

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