Oak Ridge Investments LLC lessened its stake in shares of salesforce.com, inc. (NYSE:CRM) by 8.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 60,388 shares of the CRM provider’s stock after selling 5,340 shares during the period. Oak Ridge Investments LLC’s holdings in salesforce.com were worth $8,694,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. grew its position in shares of salesforce.com by 7.3% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 370,766 shares of the CRM provider’s stock valued at $60,302,000 after purchasing an additional 25,353 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of salesforce.com by 34.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 83,059 shares of the CRM provider’s stock valued at $13,508,000 after purchasing an additional 21,468 shares during the period. Savant Capital LLC grew its position in shares of salesforce.com by 2.6% in the fourth quarter. Savant Capital LLC now owns 3,246 shares of the CRM provider’s stock valued at $528,000 after purchasing an additional 82 shares during the period. Kingsview Wealth Management LLC grew its position in shares of salesforce.com by 35.6% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,801 shares of the CRM provider’s stock valued at $1,269,000 after purchasing an additional 2,046 shares during the period. Finally, Ledyard National Bank purchased a new stake in shares of salesforce.com in the fourth quarter valued at $200,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Shares of NYSE CRM traded up $0.76 during mid-day trading on Wednesday, hitting $174.99. The company had a trading volume of 5,115,876 shares, compared to its average volume of 6,896,413. The firm has a market cap of $156.35 billion, a P/E ratio of -964.61, a PEG ratio of 8.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.08. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $195.72. The business’s 50-day simple moving average is $166.61 and its 200-day simple moving average is $166.57.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.85 billion. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, sell-side analysts predict that salesforce.com, inc. will post 1.1 EPS for the current year.

In other salesforce.com news, insider Amy E. Weaver sold 2,277 shares of salesforce.com stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $139.86, for a total transaction of $318,461.22. Following the completion of the sale, the insider now owns 32,235 shares of the company’s stock, valued at approximately $4,508,387.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Bret Steven Taylor sold 14,118 shares of salesforce.com stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.11, for a total transaction of $2,542,792.98. Following the sale, the chief operating officer now directly owns 1,074,814 shares of the company’s stock, valued at approximately $193,584,749.54. The disclosure for this sale can be found here. In the last three months, insiders sold 388,873 shares of company stock valued at $61,522,603. 4.40% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on CRM shares. Edward Jones started coverage on salesforce.com in a research report on Friday, February 28th. They issued a “buy” rating for the company. Bank of America reaffirmed a “buy” rating and issued a $210.00 price objective on shares of salesforce.com in a research report on Thursday, May 14th. Goldman Sachs Group set a $178.00 price target on salesforce.com and gave the company a “buy” rating in a research report on Thursday, March 26th. ValuEngine downgraded salesforce.com from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Stifel Nicolaus boosted their price target on salesforce.com from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $198.15.

salesforce.com Company Profile

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.

See Also: What are the Different Types of Leveraged Buyouts?

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.