Perigon Wealth Management LLC Has $5.47 Million Stock Position in salesforce.com, inc. (NYSE:CRM)

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Perigon Wealth Management LLC boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 9.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,053 shares of the CRM provider’s stock after buying an additional 3,038 shares during the period. salesforce.com makes up about 1.3% of Perigon Wealth Management LLC’s holdings, making the stock its 18th biggest position. Perigon Wealth Management LLC’s holdings in salesforce.com were worth $5,470,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. increased its position in salesforce.com by 4.7% in the 1st quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock worth $8,498,982,000 after purchasing an additional 2,395,193 shares during the last quarter. Janus Henderson Group PLC increased its position in salesforce.com by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock worth $2,009,810,000 after purchasing an additional 1,516,132 shares during the last quarter. FIL Ltd increased its position in salesforce.com by 158.1% in the 1st quarter. FIL Ltd now owns 1,901,195 shares of the CRM provider’s stock worth $301,093,000 after purchasing an additional 1,164,713 shares during the last quarter. FMR LLC increased its position in salesforce.com by 0.8% in the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock worth $14,208,366,000 after purchasing an additional 698,321 shares during the last quarter. Finally, Swedbank increased its position in salesforce.com by 40.7% in the 2nd quarter. Swedbank now owns 1,711,659 shares of the CRM provider’s stock worth $259,710,000 after purchasing an additional 495,428 shares during the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:CRM traded up $2.16 during mid-day trading on Tuesday, hitting $145.83. 2,258,027 shares of the company’s stock traded hands, compared to its average volume of 7,759,705. The firm has a 50 day moving average of $151.97 and a two-hundred day moving average of $156.34. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56. The firm has a market capitalization of $111.66 billion, a price-to-earnings ratio of 100.57, a price-to-earnings-growth ratio of 5.25 and a beta of 1.27. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equities research analysts expect that salesforce.com, inc. will post 1.26 earnings per share for the current year.

In other salesforce.com news, CAO Joe Allanson sold 327 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $153.55, for a total value of $50,210.85. Following the completion of the sale, the chief accounting officer now owns 30,619 shares in the company, valued at approximately $4,701,547.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith Block sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $156.70, for a total value of $391,750.00. Following the completion of the sale, the chief executive officer now owns 30,002 shares of the company’s stock, valued at approximately $4,701,313.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,498 shares of company stock valued at $48,924,059. 5.50% of the stock is owned by corporate insiders.

Several research analysts have weighed in on CRM shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $181.00 target price on shares of salesforce.com in a research report on Monday, June 17th. SunTrust Banks upped their target price on salesforce.com to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Evercore ISI set a $190.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley set a $178.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Wedbush reiterated an “outperform” rating and set a $184.00 price target (down previously from $192.00) on shares of salesforce.com in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $179.79.

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.

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

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