Moors & Cabot Inc. Decreases Stake in salesforce.com, inc. (NYSE:CRM)

Moors & Cabot Inc. reduced its position in salesforce.com, inc. (NYSE:CRM) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,812 shares of the CRM provider’s stock after selling 1,342 shares during the period. Moors & Cabot Inc.’s holdings in salesforce.com were worth $3,541,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CRM. Buckingham Capital Management Inc. lifted its position in shares of salesforce.com by 6.2% in the first quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock worth $5,471,000 after buying an additional 2,028 shares in the last quarter. Neville Rodie & Shaw Inc. raised its position in salesforce.com by 1.3% during the second quarter. Neville Rodie & Shaw Inc. now owns 43,265 shares of the CRM provider’s stock valued at $6,565,000 after purchasing an additional 548 shares during the period. Thomasville National Bank raised its position in salesforce.com by 1.4% during the second quarter. Thomasville National Bank now owns 63,322 shares of the CRM provider’s stock valued at $9,608,000 after purchasing an additional 884 shares during the period. Private Trust Co. NA raised its position in salesforce.com by 5.3% during the second quarter. Private Trust Co. NA now owns 7,081 shares of the CRM provider’s stock valued at $1,074,000 after purchasing an additional 354 shares during the period. Finally, Private Asset Management Inc. raised its position in salesforce.com by 5.3% during the second quarter. Private Asset Management Inc. now owns 18,592 shares of the CRM provider’s stock valued at $2,821,000 after purchasing an additional 930 shares during the period. Institutional investors own 73.72% of the company’s stock.

In related news, CAO Joe Allanson sold 323 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $155.57, for a total value of $50,249.11. Following the transaction, the chief accounting officer now owns 30,619 shares of the company’s stock, valued at $4,763,397.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $158.90, for a total value of $1,589,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 281,372 shares of company stock worth $42,324,684. 5.50% of the stock is owned by insiders.

A number of equities research analysts have issued reports on CRM shares. Northland Securities set a $185.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Friday, August 23rd. Macquarie upped their price objective on salesforce.com from $184.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. BMO Capital Markets upped their price objective on salesforce.com from $185.00 to $188.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. set a $180.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, KeyCorp set a $180.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $184.31.

Shares of CRM traded down $1.94 during mid-day trading on Tuesday, reaching $142.62. 2,485,280 shares of the company’s stock traded hands, compared to its average volume of 4,025,526. The stock has a market cap of $126.37 billion, a P/E ratio of 98.36, a P/E/G ratio of 6.17 and a beta of 1.23. The stock’s 50-day moving average is $150.16 and its two-hundred day moving average is $153.55. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.

salesforce.com (NYSE:CRM) last released its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Research analysts predict that salesforce.com, inc. will post 1.25 earnings per share for the current year.

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.

Read More: Intrinsic Value and Stock Selection

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

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