Sumitomo Life Insurance Co. cut its holdings in salesforce.com, inc. (NYSE:CRM) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,831 shares of the CRM provider’s stock after selling 508 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in salesforce.com were worth $4,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CRM. United Capital Financial Advisers LLC grew its stake in shares of salesforce.com by 17.4% in the first quarter. United Capital Financial Advisers LLC now owns 20,912 shares of the CRM provider’s stock worth $2,432,000 after purchasing an additional 3,104 shares during the last quarter. Laurel Wealth Advisors Inc. bought a new stake in salesforce.com during the 1st quarter valued at approximately $231,000. Private Capital Group LLC boosted its position in salesforce.com by 91.9% during the 1st quarter. Private Capital Group LLC now owns 1,134 shares of the CRM provider’s stock valued at $132,000 after acquiring an additional 543 shares in the last quarter. NEXT Financial Group Inc boosted its position in salesforce.com by 23.8% during the 1st quarter. NEXT Financial Group Inc now owns 6,541 shares of the CRM provider’s stock valued at $761,000 after acquiring an additional 1,258 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in salesforce.com by 65.5% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 18,200 shares of the CRM provider’s stock valued at $2,117,000 after acquiring an additional 7,200 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors.

In other news, General Counsel Amy E. Weaver sold 494 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $147.23, for a total value of $72,731.62. Following the sale, the general counsel now directly owns 20,764 shares of the company’s stock, valued at approximately $3,057,083.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Keith Block sold 2,160 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $145.37, for a total value of $313,999.20. Following the completion of the sale, the chief executive officer now directly owns 23,836 shares in the company, valued at $3,465,039.32. The disclosure for this sale can be found here. Over the last three months, insiders bought 24,000 shares of company stock worth $3,581,220 and sold 540,416 shares worth $81,795,048. Insiders own 6.00% of the company’s stock.

A number of brokerages recently issued reports on CRM. Canaccord Genuity reiterated a “buy” rating on shares of salesforce.com in a research report on Thursday, June 28th. BMO Capital Markets raised their price target on salesforce.com from $147.00 to $152.00 and gave the company a “market perform” rating in a research report on Thursday, June 28th. JMP Securities raised their price target on salesforce.com from $140.00 to $163.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Jefferies Financial Group raised their price target on salesforce.com to $168.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Finally, UBS Group lifted their price objective on salesforce.com from $153.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. Six analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $164.85.

salesforce.com stock traded down $1.96 during trading hours on Thursday, hitting $145.05. 29,250 shares of the stock traded hands, compared to its average volume of 5,416,821. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $120.34 billion, a price-to-earnings ratio of 326.00, a PEG ratio of 5.23 and a beta of 1.27. salesforce.com, inc. has a one year low of $96.05 and a one year high of $161.19.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the firm posted $0.33 EPS. The business’s revenue was up 27.3% on a year-over-year basis. On average, analysts predict that salesforce.com, inc. will post 1.22 earnings per share for the current year.

About salesforce.com

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.

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

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