CIBC Private Wealth Group LLC Has $270.16 Million Stake in salesforce.com, inc. (NYSE:CRM)

CIBC Private Wealth Group LLC grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 26.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,275,108 shares of the CRM provider’s stock after buying an additional 265,971 shares during the quarter. CIBC Private Wealth Group LLC owned 0.14% of salesforce.com worth $270,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Quilter Plc lifted its position in shares of salesforce.com by 7.6% during the 1st quarter. Quilter Plc now owns 58,102 shares of the CRM provider’s stock worth $12,310,000 after buying an additional 4,127 shares in the last quarter. Ropes Wealth Advisors LLC lifted its position in shares of salesforce.com by 2.2% during the 1st quarter. Ropes Wealth Advisors LLC now owns 3,088 shares of the CRM provider’s stock worth $666,000 after buying an additional 67 shares in the last quarter. Summitry LLC bought a new position in shares of salesforce.com during the 1st quarter worth approximately $24,633,000. Insight Wealth Strategies LLC lifted its position in shares of salesforce.com by 20.9% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,600 shares of the CRM provider’s stock worth $2,458,000 after buying an additional 2,008 shares in the last quarter. Finally, Oak Ridge Investments LLC lifted its position in shares of salesforce.com by 0.5% during the 1st quarter. Oak Ridge Investments LLC now owns 41,811 shares of the CRM provider’s stock worth $8,859,000 after buying an additional 218 shares in the last quarter. 76.13% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on CRM. Sanford C. Bernstein set a $233.00 target price on shares of salesforce.com and gave the stock a “neutral” rating in a research report on Friday, February 26th. Monness Crespi & Hardt lifted their price target on shares of salesforce.com from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, May 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $290.00 price target on shares of salesforce.com in a report on Thursday, June 3rd. KGI Securities assumed coverage on shares of salesforce.com in a report on Wednesday, June 2nd. They issued a “neutral” rating and a $280.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of salesforce.com in a report on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $275.33.

salesforce.com stock traded down $0.73 during mid-day trading on Friday, hitting $239.46. The company’s stock had a trading volume of 58,668 shares, compared to its average volume of 6,701,414. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.06. The stock has a market cap of $221.74 billion, a PE ratio of 50.25, a price-to-earnings-growth ratio of 8.07 and a beta of 1.09. The business has a 50 day moving average of $226.99. salesforce.com, inc. has a 12 month low of $171.27 and a 12 month high of $284.50.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 26th. The CRM provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.33. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.89 billion. salesforce.com had a net margin of 19.88% and a return on equity of 8.02%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities analysts forecast that salesforce.com, inc. will post 1.6 earnings per share for the current year.

In other salesforce.com news, CAO Joe Allanson sold 225 shares of the company’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total value of $48,588.75. Following the sale, the chief accounting officer now owns 31,439 shares in the company, valued at $6,789,252.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,300 shares of the company’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $215.23, for a total transaction of $925,489.00. Following the completion of the sale, the insider now owns 69,445 shares in the company, valued at approximately $14,946,647.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 187,970 shares of company stock valued at $42,875,961. Insiders own 4.10% of the company’s stock.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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