Baird Financial Group Inc. Has $14,058,000 Stake in Salesforce.com Inc (CRM)

Baird Financial Group Inc. increased its stake in Salesforce.com Inc (NYSE:CRM) by 13.7% during the fourth quarter, Holdings Channel reports. The fund owned 205,341 shares of the CRM provider’s stock after buying an additional 24,694 shares during the period. Baird Financial Group Inc.’s holdings in Salesforce.com were worth $14,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. NEXT Financial Group Inc increased its stake in shares of Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares during the period. Mycio Wealth Partners LLC increased its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Salesforce.com by 1.0% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 5,000 shares of the CRM provider’s stock worth $357,000 after buying an additional 50 shares during the period. Schmidt P J Investment Management Inc. increased its stake in shares of Salesforce.com by 1.5% in the third quarter. Schmidt P J Investment Management Inc. now owns 3,340 shares of the CRM provider’s stock worth $238,000 after buying an additional 50 shares during the period. Finally, Cedar Capital LLC increased its stake in shares of Salesforce.com by 1.3% in the third quarter. Cedar Capital LLC now owns 4,146 shares of the CRM provider’s stock worth $296,000 after buying an additional 53 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Salesforce.com Inc (NYSE:CRM) traded up 0.19% on Friday, hitting $80.97. The company had a trading volume of 1,146,330 shares. Salesforce.com Inc has a 12-month low of $60.33 and a 12-month high of $84.48. The company has a 50 day moving average of $76.93 and a 200-day moving average of $74.95. The company has a market cap of $56.41 billion, a price-to-earnings ratio of 274.47 and a beta of 1.42.

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A number of brokerages have issued reports on CRM. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price target on shares of Salesforce.com in a report on Friday. OTR Global raised Salesforce.com to a “positive” rating in a report on Thursday, December 1st. Cowen and Company reissued a “buy” rating on shares of Salesforce.com in a report on Sunday, November 20th. Rosenblatt Securities set a $90.00 target price on Salesforce.com and gave the company a “buy” rating in a report on Saturday, November 19th. Finally, Vetr raised Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $80.00 target price for the company in a report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. Salesforce.com currently has a consensus rating of “Buy” and an average price target of $92.67.

In other Salesforce.com news, insider Alexandre Dayon sold 2,628 shares of Salesforce.com stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $74.12, for a total value of $194,787.36. Following the transaction, the insider now owns 20,235 shares in the company, valued at $1,499,818.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Keith Block sold 10,000 shares of Salesforce.com stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $81.39, for a total transaction of $813,900.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at approximately $813,900. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 4,052 shares of company stock worth $299,908 and have sold 954,190 shares worth $71,227,534. 6.70% of the stock is owned by company insiders.

About Salesforce.com

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

5 Day Chart for NYSE:CRM

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