Taylor Frigon Capital Management LLC Lowers Holdings in salesforce.com, inc. (NYSE:CRM)

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Taylor Frigon Capital Management LLC cut its position in salesforce.com, inc. (NYSE:CRM) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,826 shares of the CRM provider’s stock after selling 530 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in salesforce.com were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Securities Inc. lifted its position in shares of salesforce.com by 10.6% during the 4th quarter. Comerica Securities Inc. now owns 1,704 shares of the CRM provider’s stock worth $233,000 after purchasing an additional 163 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of salesforce.com by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 915,894 shares of the CRM provider’s stock worth $125,446,000 after purchasing an additional 75,502 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of salesforce.com by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 8,972,048 shares of the CRM provider’s stock worth $1,226,559,000 after purchasing an additional 625,285 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in salesforce.com by 10.4% during the fourth quarter. Segall Bryant & Hamill LLC now owns 6,597 shares of the CRM provider’s stock valued at $904,000 after acquiring an additional 620 shares during the period. Finally, Cetera Investment Advisers increased its stake in salesforce.com by 14.4% during the fourth quarter. Cetera Investment Advisers now owns 1,635 shares of the CRM provider’s stock valued at $224,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 81.58% of the company’s stock.

Shares of CRM stock traded up $0.42 during trading hours on Friday, reaching $159.77. The company had a trading volume of 212,106 shares, compared to its average volume of 4,721,002. The firm’s 50 day simple moving average is $154.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $123.99 billion, a price-to-earnings ratio of 110.19, a price-to-earnings-growth ratio of 5.87 and a beta of 1.28. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities analysts predict that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

In related news, insider Mark J. Hawkins sold 15,271 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $157.31, for a total value of $2,402,281.01. Following the completion of the sale, the insider now owns 24,375 shares in the company, valued at approximately $3,834,431.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $158.90, for a total transaction of $1,589,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 352,055 shares of company stock valued at $54,950,733. 5.50% of the stock is owned by corporate insiders.

CRM has been the topic of several analyst reports. Bank of America set a $4.00 price objective on GameStop and gave the company a “sell” rating in a research note on Wednesday, June 5th. Wedbush set a $12.00 price objective on GameStop and gave the company a “buy” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research note on Monday, June 3rd. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $200.00 price objective (up from $195.00) on shares of salesforce.com in a research note on Wednesday, June 5th. Three 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’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $180.11.

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.

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

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