Atalanta Sosnoff Capital LLC Decreases Stock Holdings in salesforce.com, inc. (NYSE:CRM)

Atalanta Sosnoff Capital LLC decreased its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,793 shares of the CRM provider’s stock after selling 4,021 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in salesforce.com were worth $34,446,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MidWestOne Financial Group Inc. purchased a new stake in salesforce.com during the second quarter valued at $756,000. EP Wealth Advisors LLC increased its position in salesforce.com by 23.0% during the second quarter. EP Wealth Advisors LLC now owns 2,527 shares of the CRM provider’s stock valued at $383,000 after acquiring an additional 472 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in salesforce.com by 31.2% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 519,231 shares of the CRM provider’s stock valued at $77,075,000 after acquiring an additional 123,548 shares during the last quarter. Welch & Forbes LLC increased its position in salesforce.com by 19.0% during the third quarter. Welch & Forbes LLC now owns 4,290 shares of the CRM provider’s stock valued at $637,000 after acquiring an additional 686 shares during the last quarter. Finally, Sandy Spring Bank increased its position in salesforce.com by 1.7% during the third quarter. Sandy Spring Bank now owns 46,067 shares of the CRM provider’s stock valued at $6,839,000 after acquiring an additional 749 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

salesforce.com stock traded up $1.23 during midday trading on Thursday, hitting $183.98. 4,368,578 shares of the company’s stock were exchanged, compared to its average volume of 5,446,607. 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 $186.44. The firm has a 50-day moving average of $168.40 and a two-hundred day moving average of $157.06. The company has a market cap of $164.33 billion, a PE ratio of 195.72, a P/E/G ratio of 7.73 and a beta of 1.22.

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

In other salesforce.com news, insider Parker Harris sold 620 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $155.44, for a total transaction of $96,372.80. Following the transaction, the insider now directly owns 32,034 shares in the company, valued at approximately $4,979,364.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 5,000 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $148.90, for a total transaction of $744,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,205 shares of company stock worth $68,637,036. 5.50% of the stock is owned by company insiders.

A number of research analysts have weighed in on CRM shares. BMO Capital Markets reiterated a “top pick” rating on shares of salesforce.com in a research report on Monday. Robert W. Baird reiterated a “buy” rating and set a $185.00 price objective on shares of salesforce.com in a research report on Thursday, November 21st. Northland Securities reiterated a “buy” rating and set a $185.00 price objective on shares of salesforce.com in a research report on Wednesday, December 4th. Goldman Sachs Group reiterated a “buy” rating and set a $191.00 price objective on shares of salesforce.com in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $200.00 price objective on shares of salesforce.com in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $194.66.

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.

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

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