California Public Employees Retirement System lowered its stake in salesforce.com, inc. (NYSE:CRM) by 1.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,250,180 shares of the CRM provider’s stock after selling 21,562 shares during the period. California Public Employees Retirement System’s holdings in salesforce.com were worth $197,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Oregon Public Employees Retirement Fund lifted its stake in salesforce.com by 29,364.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock valued at $159,000 after buying an additional 21,642,889 shares in the last quarter. Norges Bank bought a new position in salesforce.com in the fourth quarter valued at approximately $938,778,000. Lunia Capital LP bought a new position in salesforce.com in the fourth quarter valued at approximately $5,811,000. BlackRock Inc. lifted its stake in salesforce.com by 9.2% in the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock valued at $7,022,474,000 after buying an additional 4,321,630 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in salesforce.com by 18.3% in the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock valued at $2,694,432,000 after buying an additional 3,041,293 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

In other salesforce.com news, Director Craig Conway sold 200 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $153.00, for a total value of $30,600.00. Following the transaction, the director now directly owns 9,110 shares in the company, valued at $1,393,830. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Amy E. Weaver sold 5,325 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $161.08, for a total transaction of $857,751.00. Following the completion of the transaction, the insider now owns 29,127 shares in the company, valued at $4,691,777.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 439,500 shares of company stock worth $70,392,703. 5.50% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on CRM. BMO Capital Markets reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $175.00) on shares of salesforce.com in a research note on Tuesday, March 5th. Canaccord Genuity reissued a “buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of salesforce.com in a research report on Wednesday, March 6th. Exane BNP Paribas began coverage on shares of salesforce.com in a research report on Friday, March 29th. They issued an “outperform” rating on the stock. Barclays boosted their price objective on shares of salesforce.com to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, TheStreet raised shares of salesforce.com from a “c+” rating to a “b” rating in a research report on Thursday, January 31st. Three investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com has an average rating of “Buy” and a consensus price target of $177.82.

Shares of CRM opened at $158.07 on Thursday. The firm has a market cap of $118.04 billion, a P/E ratio of 109.01, a PEG ratio of 5.65 and a beta of 1.37. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95.

salesforce.com (NYSE:CRM) last issued its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.14. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same period in the previous year, the company earned $0.35 earnings per share. On average, analysts predict that salesforce.com, inc. will post 1.18 earnings per share 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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