Locust Wood Capital Advisers LLC Reduces Position in salesforce.com, inc. (CRM)

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Locust Wood Capital Advisers LLC reduced its holdings in salesforce.com, inc. (NYSE:CRM) by 0.2% during the first quarter, HoldingsChannel reports. The firm owned 177,480 shares of the CRM provider’s stock after selling 440 shares during the period. salesforce.com makes up 2.2% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 17th largest holding. Locust Wood Capital Advisers LLC’s holdings in salesforce.com were worth $28,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bremer Trust National Association raised its holdings in shares of salesforce.com by 0.4% during the fourth quarter. Bremer Trust National Association now owns 17,925 shares of the CRM provider’s stock valued at $2,455,000 after acquiring an additional 66 shares during the period. Highland Private Wealth Management raised its holdings in shares of salesforce.com by 3.3% during the fourth quarter. Highland Private Wealth Management now owns 2,124 shares of the CRM provider’s stock valued at $291,000 after acquiring an additional 68 shares during the period. Mycio Wealth Partners LLC raised its holdings in shares of salesforce.com by 2.5% during the fourth quarter. Mycio Wealth Partners LLC now owns 2,833 shares of the CRM provider’s stock valued at $388,000 after acquiring an additional 70 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in shares of salesforce.com by 1.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,983 shares of the CRM provider’s stock valued at $546,000 after acquiring an additional 72 shares during the period. Finally, Townsend & Associates Inc raised its holdings in shares of salesforce.com by 0.9% during the first quarter. Townsend & Associates Inc now owns 8,377 shares of the CRM provider’s stock valued at $1,327,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 83.02% of the company’s stock.

CRM stock opened at $158.69 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $123.39 billion, a price-to-earnings ratio of 109.44, a price-to-earnings-growth ratio of 5.34 and a beta of 1.39. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $166.99.

salesforce.com (NYSE:CRM) last posted its earnings results on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities research analysts predict that salesforce.com, inc. will post 1.31 EPS for the current fiscal year.

Several research firms have weighed in on CRM. JPMorgan Chase & Co. set a $180.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research note on Wednesday. Exane BNP Paribas began coverage on shares of salesforce.com in a research note on Friday, March 29th. They issued an “outperform” rating on the stock. BNP Paribas began coverage on shares of salesforce.com in a research note on Friday, March 29th. They issued an “outperform” rating on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $175.00 price objective on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $166.00 price objective on shares of salesforce.com in a research note on Monday, January 7th. Three investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $177.82.

In related news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $160.48, for a total transaction of $802,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 6,331 shares of the company’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $145.80, for a total transaction of $923,059.80. Following the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at $4,370,209.20. The disclosure for this sale can be found here. Insiders sold 437,752 shares of company stock valued at $69,193,495 over the last three months. Insiders own 6.00% of the company’s stock.

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salesforce.com 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: Stock Symbol

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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