Cornerstone Capital Management Holdings LLC. cut its position in Salesforce.com Inc (NYSE:CRM) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,244 shares of the CRM provider’s stock after selling 9,528 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Salesforce.com were worth $10,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Analysts LLC boosted its position in shares of Salesforce.com by 14.1% during the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after acquiring an additional 156 shares during the last quarter. Peddock Capital Advisors LLC boosted its position in shares of Salesforce.com by 3,000.0% during the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after acquiring an additional 1,350 shares during the last quarter. People s United Financial Inc. boosted its position in shares of Salesforce.com by 60.1% during the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after acquiring an additional 550 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Salesforce.com during the second quarter worth $130,000. Finally, Harfst & Associates Inc. bought a new position in shares of Salesforce.com during the first quarter worth $141,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

Salesforce.com Inc (CRM) traded down 0.07% on Monday, reaching $96.25. 291,551 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $94.65 and a 200-day moving average price of $89.26. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $98.22. The company’s market capitalization is $69.17 billion.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce.com Inc will post $1.32 earnings per share for the current year.

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In other news, Vice Chairman Keith Block sold 10,000 shares of Salesforce.com stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $95.11, for a total value of $951,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig Conway sold 602 shares of Salesforce.com stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $94.76, for a total value of $57,045.52. Following the completion of the transaction, the director now directly owns 9,908 shares in the company, valued at $938,882.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 526,343 shares of company stock worth $48,556,541. 6.20% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on CRM shares. Vetr upgraded shares of Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 target price for the company in a research report on Monday, June 12th. BidaskClub lowered shares of Salesforce.com from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Salesforce.com in a research report on Friday, June 16th. Northland Securities set a $105.00 target price on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Saturday, June 24th. Finally, SunTrust Banks, Inc. started coverage on shares of Salesforce.com in a research report on Monday, June 26th. They set a “buy” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $102.66.

Salesforce.com Profile

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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

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