Citizens Financial Group Inc. RI decreased its holdings in Salesforce Inc. (NYSE:CRM – Free Report) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,804 shares of the CRM provider’s stock after selling 2,206 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Salesforce were worth $4,095,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its stake in Salesforce by 38.2% in the 3rd quarter. Simplicity Wealth LLC now owns 4,843 shares of the CRM provider’s stock valued at $1,112,000 after acquiring an additional 1,339 shares during the last quarter. Madrona Financial Services LLC purchased a new position in shares of Salesforce during the 3rd quarter worth $214,000. NTV Asset Management LLC purchased a new position in Salesforce during the third quarter worth about $244,000. Sowell Financial Services LLC boosted its position in shares of Salesforce by 16.1% in the third quarter. Sowell Financial Services LLC now owns 9,277 shares of the CRM provider’s stock worth $2,130,000 after acquiring an additional 1,288 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC purchased a new position in Salesforce during the third quarter worth approximately $1,407,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on CRM shares. Bank of America raised shares of Salesforce from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $285.00 in a research report on Monday, October 12th. Wells Fargo & Company lowered shares of Salesforce from a “buy” rating to a “strong sell” rating in a report on Monday, October 12th. Deutsche Bank Aktiengesellschaft began coverage on Salesforce in a research note on Monday, October 12th. They set a “buy” rating for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $250.00 price target on shares of Salesforce in a report on Thursday, September 17th. Finally, BMO Capital Markets upped their price objective on Salesforce from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $278.98.
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