Crosslink Capital Inc. Sells 42,080 Shares of salesforce.com, inc. (NYSE:CRM)

Crosslink Capital Inc. decreased its holdings in salesforce.com, inc. (NYSE:CRM) by 74.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,134 shares of the CRM provider’s stock after selling 42,080 shares during the period. salesforce.com accounts for about 0.5% of Crosslink Capital Inc.’s portfolio, making the stock its 23rd biggest holding. Crosslink Capital Inc.’s holdings in salesforce.com were worth $2,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC bought a new position in salesforce.com during the second quarter valued at approximately $26,000. Citizens Financial Group Inc RI bought a new position in salesforce.com during the first quarter valued at approximately $27,000. Avestar Capital LLC boosted its stake in salesforce.com by 108.7% during the first quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Personal Wealth Partners bought a new position in salesforce.com during the second quarter valued at approximately $28,000. Finally, Harvest Group Wealth Management LLC bought a new position in salesforce.com during the first quarter valued at approximately $32,000. 73.81% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. set a $180.00 price target on salesforce.com and gave the company a “buy” rating in a research note on Friday, August 23rd. Compass Point set a $193.00 price target on salesforce.com and gave the company a “buy” rating in a research note on Friday, August 23rd. Wedbush reissued an “outperform” rating and set a $184.00 price target (down from $192.00) on shares of salesforce.com in a research note on Tuesday, August 20th. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Finally, JMP Securities raised their price objective on salesforce.com from $178.00 to $191.00 and gave the company a “market outperform” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $183.82.



In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $150.49, for a total transaction of $1,504,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sanford Robertson sold 25,000 shares of salesforce.com stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $155.67, for a total value of $3,891,750.00. Following the transaction, the director now owns 124,017 shares of the company’s stock, valued at approximately $19,305,726.39. The disclosure for this sale can be found here. Insiders sold a total of 315,614 shares of company stock valued at $48,030,737 in the last three months. Insiders own 5.50% of the company’s stock.

Shares of salesforce.com stock traded down $1.47 during trading on Friday, reaching $153.28. The company’s stock had a trading volume of 361,391 shares, compared to its average volume of 7,067,063. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a market cap of $131.24 billion, a price-to-earnings ratio of 105.71, a P/E/G ratio of 5.51 and a beta of 1.24. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56. The company has a 50-day simple moving average of $150.03 and a two-hundred day simple moving average of $155.64.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. As a group, analysts anticipate that salesforce.com, inc. will post 1.25 earnings per share for the current year.

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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