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


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Indie Asset Partners LLC cut its stake in shares of salesforce.com, inc. (NYSE:CRM) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,010 shares of the CRM provider’s stock after selling 190 shares during the quarter. Indie Asset Partners LLC’s holdings in salesforce.com were worth $225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Dimension Capital Management LLC purchased a new stake in salesforce.com in the third quarter valued at $26,000. Trustcore Financial Services LLC boosted its holdings in salesforce.com by 116.9% in the third quarter. Trustcore Financial Services LLC now owns 128 shares of the CRM provider’s stock valued at $32,000 after purchasing an additional 69 shares during the last quarter. First Personal Financial Services purchased a new stake in salesforce.com in the fourth quarter valued at $32,000. Larson Financial Group LLC boosted its stake in shares of salesforce.com by 93.4% during the 4th quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Finally, Flagship Private Wealth LLC purchased a new stake in shares of salesforce.com during the 4th quarter worth about $33,000. 80.20% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Amy E. Weaver sold 11,000 shares of salesforce.com stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $220.90, for a total transaction of $2,429,900.00. Following the sale, the insider now directly owns 31,676 shares in the company, valued at approximately $6,997,228.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joe Allanson sold 313 shares of salesforce.com stock in a transaction on Wednesday, December 23rd. The stock was sold at an average price of $229.36, for a total transaction of $71,789.68. Following the sale, the chief accounting officer now owns 31,439 shares in the company, valued at $7,210,849.04. The disclosure for this sale can be found here. Insiders sold a total of 73,144 shares of company stock worth $16,619,830 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Shares of CRM traded down $6.35 during midday trading on Tuesday, reaching $234.60. The stock had a trading volume of 316,281 shares, compared to its average volume of 6,987,337. salesforce.com, inc. has a 1-year low of $115.29 and a 1-year high of $284.50. The company’s fifty day simple moving average is $229.01 and its two-hundred day simple moving average is $237.12. The company has a market cap of $214.66 billion, a price-to-earnings ratio of 62.91, a PEG ratio of 5.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Monday, November 30th. The CRM provider reported $1.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.99. salesforce.com had a net margin of 17.53% and a return on equity of 6.63%. The business had revenue of $5.42 million for the quarter, compared to analyst estimates of $5.25 billion. During the same period last year, the business earned $0.75 EPS. The company’s revenue was down 99.9% on a year-over-year basis. On average, sell-side analysts forecast that salesforce.com, inc. will post 2.81 earnings per share for the current year.

CRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. set a $250.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, December 9th. Morgan Stanley lowered their target price on shares of salesforce.com from $275.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 3rd. Mizuho increased their target price on shares of salesforce.com from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th. KeyCorp initiated coverage on shares of salesforce.com in a research note on Monday, November 23rd. They set an “overweight” rating and a $310.00 target price on the stock. Finally, Barclays set a $276.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, December 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. salesforce.com has an average rating of “Buy” and an average price target of $264.83.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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