CDPQ Buys into Salesforce with $70 Million Stake

Caisse de depot et placement du Quebec has purchased a new position in Salesforce Inc. (NYSE:CRM), buying 446,200 shares valued at approximately $69,902,000.

This acquisition marks CDPQ's entry into the CRM provider's stock, with the fund now owning about 0.05% of Salesforce at the end of the most recent quarter.

The purchase is part of a larger trend in which several institutional investors have added to their stakes in Salesforce, including Commonwealth Retirement Investments LLC and Manning & Napier Advisors LLC.