Highland Capital Management Lp Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Highland Capital Management Lp reduced its stake in salesforce.com by 12.69% during the most recent quarter end. The investment management company now holds a total of 1,725,287 shares of salesforce.com which is valued at $140,835,178 after selling 250,850 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.salesforce.com makes up approximately 7.54% of Highland Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Babson Capital Management reduced its stake in CRM by selling 11,200 shares or 37.88% in the most recent quarter. The Hedge Fund company now holds 18,364 shares of CRM which is valued at $1,499,053. salesforce.com makes up approx 0.07% of Babson Capital Management’s portfolio. M&r Capital Management Inc added CRM to its portfolio by purchasing 1,500 company shares during the most recent quarter which is valued at $122,445. salesforce.com makes up approx 0.03% of M&r Capital Management Inc’s portfolio.Signature Estate Investment Advisors reduced its stake in CRM by selling 149,112 shares or 97.06% in the most recent quarter. The Hedge Fund company now holds 4,523 shares of CRM which is valued at $367,132. salesforce.com makes up approx 0.06% of Signature Estate Investment Advisors’s portfolio. Gerstein Fisher added CRM to its portfolio by purchasing 2,912 company shares during the most recent quarter which is valued at $237,270. salesforce.com makes up approx 0.03% of Gerstein Fisher’s portfolio. Gsa Capital Partners Llp added CRM to its portfolio by purchasing 37,266 company shares during the most recent quarter which is valued at $3,030,844. salesforce.com makes up approx 0.16% of Gsa Capital Partners Llp’s portfolio.

salesforce.com closed down -3.51 points or -4.42% at $75.91 with 2,74,18,454 shares getting traded on Thursday. Post opening the session at $75.45, the shares hit an intraday low of $74.06 and an intraday high of $76.55 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 31, 2016. Analyst had a consensus of $0.22. The company had revenue of $2037.00 million for the quarter, compared to analysts expectations of $2019.61 million. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on salesforce.com. Shares were Reiterated by Mizuho on Sep 1, 2016 to “Buy” and Lowered the Price Target to $ 85 from a previous price target of $100 .Shares were Reiterated by BMO Capital Markets on Sep 1, 2016 to “Outperform” and Lowered the Price Target to $ 86 from a previous price target of $98 .Shares were Reiterated by RBC Capital Mkts on Sep 1, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $91 .

salesforce.com inc. is a provider of enterprise cloud computing solutions that include apps and platform services as well as professional services. The Company focuses on customer relationship management (CRM). The Company offers six core cloud services that include sales force automation customer service and support marketing automation community management analytics and a cloud platform for building custom applications. The Company offers consulting deployment training implementation and integration services to its customers to facilitate the adoption of its cloud solutions. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices on a subscription basis primarily through its direct sales efforts and indirectly through partners.

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