Alerus Financial NA boosted its stake in salesforce.com, inc. (NYSE:CRM) by 2.5% during the first quarter, HoldingsChannel.com reports. The fund owned 13,868 shares of the CRM provider’s stock after purchasing an additional 339 shares during the quarter. Alerus Financial NA’s holdings in salesforce.com were worth $2,196,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CRM. Flinton Capital Management LLC boosted its stake in salesforce.com by 17.5% during the 4th quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock worth $10,006,000 after purchasing an additional 10,864 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its stake in salesforce.com by 5.7% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock worth $12,808,000 after purchasing an additional 5,063 shares during the last quarter. Heritage Investors Management Corp boosted its stake in salesforce.com by 10.0% during the 1st quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock worth $5,452,000 after purchasing an additional 3,143 shares during the last quarter. Putnam FL Investment Management Co. boosted its stake in salesforce.com by 0.5% during the 4th quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock worth $2,930,000 after purchasing an additional 97 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd boosted its stake in salesforce.com by 10.7% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 55,648 shares of the CRM provider’s stock worth $7,622,000 after purchasing an additional 5,398 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CRM opened at $155.98 on Tuesday. The stock has a market capitalization of $119.14 billion, a P/E ratio of 107.57, a P/E/G ratio of 5.70 and a beta of 1.37. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month 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 quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates 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 firm earned $0.35 EPS. Analysts expect that salesforce.com, inc. will post 1.18 earnings per share for the current year.

CRM has been the topic of several recent research reports. OTR Global cut shares of salesforce.com to a “positive” rating in a research note on Wednesday, May 15th. TheStreet raised shares of salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Bank of America reaffirmed a “buy” rating and set a $200.00 target price (up previously from $181.00) on shares of salesforce.com in a research note on Wednesday, February 27th. Barclays lifted their target price on shares of salesforce.com to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $185.00 target price (up previously from $175.00) on shares of salesforce.com in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $177.82.

In related news, Director Craig Conway sold 200 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $161.00, for a total value of $32,200.00. Following the sale, the director now directly owns 9,310 shares in the company, valued at approximately $1,498,910. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keith Block sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $160.36, for a total transaction of $801,800.00. Following the completion of the sale, the chief executive officer now owns 27,705 shares in the company, valued at $4,442,773.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 442,400 shares of company stock worth $70,717,082. 5.50% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: “salesforce.com, inc. (CRM) Shares Bought by Alerus Financial NA” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/salesforce-com-inc-crm-shares-bought-by-alerus-financial-na/3017254.html.

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.

Read More: What is insider trading?

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.