Ithaka Group Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Ithaka Group reduced its stake in salesforce.com by 2.13% during the most recent quarter end. The investment management company now holds a total of 510,415 shares of salesforce.com which is valued at $41,665,176 after selling 11,125 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.salesforce.com makes up approximately 5.59% of Ithaka Group’s portfolio.

Other Hedge Funds, Including , Mn Services Vermogensbeheer B.v. boosted its stake in CRM in the latest quarter, The investment management firm added 203 additional shares and now holds a total of 15,967 shares of salesforce.com which is valued at $1,298,596. salesforce.com makes up approx 0.26% of Mn Services Vermogensbeheer B.v.’s portfolio.Whittier Trust Co boosted its stake in CRM in the latest quarter, The investment management firm added 1,634 additional shares and now holds a total of 51,873 shares of salesforce.com which is valued at $4,243,211. salesforce.com makes up approx 0.18% of Whittier Trust Co’s portfolio.Ariel Capital Advisors boosted its stake in CRM in the latest quarter, The investment management firm added 735 additional shares and now holds a total of 17,638 shares of salesforce.com which is valued at $1,437,497. salesforce.com makes up approx 0.87% of Ariel Capital Advisors’s portfolio.

salesforce.com closed down -0.11 points or -0.14% at $79.92 with 45,82,805 shares getting traded on Monday. Post opening the session at $80.21, the shares hit an intraday low of $79.7206 and an intraday high of $80.24 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.23. The company had revenue of $1.92 million for the quarter, compared to analysts expectations of $1892.96 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on salesforce.com. BMO Capital Markets Initiated salesforce.com on Jun 15, 2016 to “Outperform”, Price Target of the shares are set at $98.Company shares were Reiterated by Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 101 from a previous price target of $93 .

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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