Watch Point Trust Co Has $4.80 Million Stake in salesforce.com, inc. (NYSE:CRM)

Watch Point Trust Co cut its holdings in salesforce.com, inc. (NYSE:CRM) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,310 shares of the CRM provider’s stock after selling 239 shares during the period. salesforce.com makes up 2.6% of Watch Point Trust Co’s portfolio, making the stock its 9th largest position. Watch Point Trust Co’s holdings in salesforce.com were worth $4,796,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CRM. Nuveen Asset Management LLC raised its stake in shares of salesforce.com by 36,379.9% during the second quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock valued at $1,919,183,000 after acquiring an additional 12,614,007 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of salesforce.com by 13.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after acquiring an additional 4,046,077 shares during the last quarter. Viking Global Investors LP bought a new position in shares of salesforce.com during the second quarter valued at about $443,415,000. BlackRock Inc. raised its stake in shares of salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after acquiring an additional 2,499,996 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of salesforce.com by 8.4% during the second quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after acquiring an additional 1,673,392 shares during the last quarter. 73.98% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on CRM. TheStreet downgraded shares of salesforce.com from a “b” rating to a “c” rating in a research note on Thursday, August 22nd. Compass Point set a $193.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets increased their price target on shares of salesforce.com from $185.00 to $188.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. UBS Group set a $190.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. set a $180.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and an average target price of $184.74.

In other news, Director Sanford Robertson sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the sale, the director now owns 124,017 shares in the company, valued at $19,305,726.39. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $158.86, for a total transaction of $794,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,026 shares of company stock worth $39,295,084. Corporate insiders own 5.50% of the company’s stock.

Shares of NYSE:CRM traded up $1.61 during trading on Friday, reaching $161.11. 3,152,878 shares of the stock traded hands, compared to its average volume of 5,756,425. The stock has a 50-day moving average of $150.88 and a two-hundred day moving average of $153.17. salesforce.com, inc. has a 52-week low of $113.60 and a 52-week high of $167.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $138.70 billion, a P/E ratio of 111.11, a price-to-earnings-growth ratio of 6.77 and a beta of 1.22.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.57. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. 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 company posted $0.71 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts expect 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.

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

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