Boston Private Wealth LLC lowered its position in shares of salesforce.com, inc. (NYSE:CRM) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,609 shares of the CRM provider’s stock after selling 8,057 shares during the quarter. Boston Private Wealth LLC’s holdings in salesforce.com were worth $14,052,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRM. Avondale Wealth Management increased its position in salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Citizens Financial Group Inc RI acquired a new stake in salesforce.com in the 1st quarter valued at about $27,000. CX Institutional increased its position in salesforce.com by 426.5% in the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 145 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Finally, Avestar Capital LLC increased its position in salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.

CRM traded down $1.45 during trading on Tuesday, reaching $156.25. The company had a trading volume of 4,627,882 shares, compared to its average volume of 5,642,352. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56. The company’s fifty day moving average price is $154.70. The stock has a market capitalization of $121.64 billion, a P/E ratio of 107.76, a P/E/G ratio of 5.76 and a beta of 1.29.

salesforce.com (NYSE:CRM) last announced 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. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was up 24.3% on a year-over-year basis. On average, research analysts expect that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.

In other news, insider Mark J. Hawkins sold 15,271 shares of salesforce.com stock in a transaction that occurred 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 sale, the insider now directly owns 24,375 shares in the company, valued at $3,834,431.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 6,330 shares of salesforce.com stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $157.43, for a total transaction of $996,531.90. Following the completion of the sale, the insider now owns 33,882 shares in the company, valued at $5,334,043.26. The disclosure for this sale can be found here. Insiders sold 354,555 shares of company stock worth $55,382,838 over the last quarter. 5.50% of the stock is owned by corporate insiders.

Several brokerages have recently commented on CRM. Credit Suisse Group reiterated an “outperform” rating on shares of salesforce.com in a research report on Thursday, June 6th. Exane BNP Paribas began coverage on shares of Workday in a research report on Friday, March 29th. They set an “underperform” rating for the company. SunTrust Banks reiterated a “hold” rating and set a $60.00 price target on shares of Tripadvisor in a research report on Tuesday, June 11th. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a GBX 150 ($1.96) price target on shares of in a research report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $179.97.

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.

Further Reading: Capital Gains

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

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