Riverbridge Partners LLC Reduces Position in salesforce.com, inc. (NYSE:CRM)

Riverbridge Partners LLC cut its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,018 shares of the CRM provider’s stock after selling 82 shares during the period. Riverbridge Partners LLC’s holdings in salesforce.com were worth $58,391,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRM. Nuveen Asset Management LLC boosted its position 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 buying an additional 12,614,007 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 4,046,077 shares during the last quarter. State Street Corp boosted its position in shares of salesforce.com by 12.1% during the third quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock valued at $5,145,974,000 after buying an additional 3,749,613 shares during the last quarter. Viking Global Investors LP purchased a new stake in shares of salesforce.com during the second quarter valued at $443,415,000. Finally, BlackRock Inc. boosted its position 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 buying an additional 2,499,996 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating on shares of salesforce.com in a research report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of salesforce.com in a research report on Wednesday, December 4th. Cross Research reaffirmed an “outperform” rating on shares of salesforce.com in a research report on Thursday, December 5th. Evercore ISI reaffirmed a “buy” rating and set a $190.00 price objective on shares of salesforce.com in a research report on Tuesday, November 12th. Finally, Barclays reaffirmed a “buy” rating and set a $189.00 price objective on shares of salesforce.com in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $192.80.

In related news, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $147.10, for a total transaction of $735,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $143.68, for a total value of $89,081.60. Following the sale, the insider now directly owns 32,034 shares in the company, valued at approximately $4,602,645.12. The disclosure for this sale can be found here. Insiders sold 395,741 shares of company stock worth $63,928,887 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Shares of NYSE CRM traded down $1.73 during trading on Tuesday, hitting $182.12. The company had a trading volume of 4,341,490 shares, compared to its average volume of 6,024,278. The stock has a 50 day simple moving average of $164.71 and a 200 day simple moving average of $155.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. salesforce.com, inc. has a 12 month low of $137.87 and a 12 month high of $184.45. The firm has a market capitalization of $159.84 billion, a P/E ratio of 125.60, a price-to-earnings-growth ratio of 7.52 and a beta of 1.22.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. salesforce.com had a return on equity of 5.37% and a net margin of 4.64%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, analysts predict that salesforce.com, inc. will post 1.28 EPS for the current year.

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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