Global Trust Asset Management LLC trimmed its stake in shares of salesforce.com, inc. (NYSE:CRM) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,283 shares of the CRM provider’s stock after selling 400 shares during the quarter. Global Trust Asset Management LLC’s holdings in salesforce.com were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. raised its stake in salesforce.com by 27.7% in the fourth quarter. Carroll Financial Associates Inc. now owns 1,050 shares of the CRM provider’s stock valued at $149,000 after purchasing an additional 228 shares in the last quarter. First Hawaiian Bank raised its stake in salesforce.com by 5.8% in the fourth quarter. First Hawaiian Bank now owns 18,904 shares of the CRM provider’s stock valued at $2,589,000 after purchasing an additional 1,039 shares in the last quarter. Cerebellum GP LLC acquired a new position in salesforce.com in the fourth quarter valued at about $177,000. Private Asset Management Inc. raised its stake in salesforce.com by 12.5% in the fourth quarter. Private Asset Management Inc. now owns 20,982 shares of the CRM provider’s stock valued at $2,874,000 after purchasing an additional 2,330 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in salesforce.com by 8.7% in the fourth quarter. CENTRAL TRUST Co now owns 33,046 shares of the CRM provider’s stock valued at $4,527,000 after purchasing an additional 2,645 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Parker Harris sold 5,711 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $140.14, for a total transaction of $800,339.54. Following the sale, the insider now directly owns 27,938 shares in the company, valued at $3,915,231.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Craig Conway sold 200 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $146.49, for a total value of $29,298.00. Following the completion of the sale, the director now owns 9,127 shares in the company, valued at $1,337,014.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 498,706 shares of company stock worth $66,987,616. Company insiders own 6.00% of the company’s stock.

A number of research analysts recently commented on CRM shares. Zacks Investment Research reaffirmed a “hold” rating on shares of salesforce.com in a research note on Monday, November 12th. TheStreet downgraded salesforce.com from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Atlantic Securities started coverage on salesforce.com in a research note on Wednesday. They issued an “overweight” rating and a $179.00 price target for the company. BMO Capital Markets boosted their price target on salesforce.com from $165.00 to $174.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Finally, Jefferies Financial Group boosted their price target on salesforce.com from $172.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Three research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $168.97.

Shares of NYSE:CRM traded up $0.51 during midday trading on Friday, hitting $147.55. 5,165,226 shares of the stock were exchanged, compared to its average volume of 6,627,198. The stock has a market cap of $111.68 billion, a P/E ratio of 327.89, a price-to-earnings-growth ratio of 4.59 and a beta of 1.28. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. salesforce.com, inc. has a 12 month low of $102.37 and a 12 month high of $161.19.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.11. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.37 billion. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, equities analysts forecast that salesforce.com, inc. will post 1.32 EPS for the current year.

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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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