Canada Pension Plan Investment Board reduced its position in shares of Salesforce.com Inc (NYSE:CRM) by 41.9% during the second quarter, Holdings Channel reports. The fund owned 550,984 shares of the CRM provider’s stock after selling 397,726 shares during the period. Canada Pension Plan Investment Board’s holdings in Salesforce.com were worth $47,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRM. KBC Group NV raised its position in shares of Salesforce.com by 16.9% in the first quarter. KBC Group NV now owns 521,167 shares of the CRM provider’s stock worth $42,991,000 after buying an additional 75,430 shares during the last quarter. Compton Capital Management Inc. RI purchased a new position in shares of Salesforce.com during the first quarter worth approximately $436,000. Shell Asset Management Co. raised its position in shares of Salesforce.com by 0.7% in the first quarter. Shell Asset Management Co. now owns 72,793 shares of the CRM provider’s stock worth $6,005,000 after buying an additional 497 shares during the last quarter. 1st Global Advisors Inc. raised its position in shares of Salesforce.com by 35.1% in the first quarter. 1st Global Advisors Inc. now owns 15,029 shares of the CRM provider’s stock worth $1,240,000 after buying an additional 3,903 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC raised its position in shares of Salesforce.com by 1.0% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 74,979 shares of the CRM provider’s stock worth $6,185,000 after buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

Shares of Salesforce.com Inc (NYSE:CRM) opened at 87.63 on Friday. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $92.13. The firm has a market capitalization of $62.41 billion, a P/E ratio of 463.65 and a beta of 1.29. The stock has a 50 day moving average of $89.19 and a 200-day moving average of $85.57.

Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. Salesforce.com’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Equities analysts expect that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.

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CRM has been the topic of a number of recent research reports. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price objective on the stock in a research report on Monday, May 15th. Zacks Investment Research lowered Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Credit Suisse Group initiated coverage on Salesforce.com in a research report on Thursday, April 27th. They issued an “outperform” rating and a $110.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $102.00 price objective on shares of Salesforce.com in a research report on Monday, July 31st. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Sunday, May 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $97.31.

In other Salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $85.73, for a total value of $857,300.00. Following the completion of the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at approximately $2,931,563,069. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $89.79, for a total transaction of $720,744.33. Following the completion of the transaction, the insider now directly owns 48,254 shares of the company’s stock, valued at $4,332,726.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,396,066 shares of company stock valued at $125,528,615. 6.70% of the stock is owned by insiders.

Salesforce.com Company 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.

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

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