Bridgewater Advisors Inc. acquired a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,920 shares of the CRM provider’s stock, valued at approximately $1,101,000.
Several other institutional investors have also recently made changes to their positions in the company. Temasek Holdings Private Ltd grew its stake in Salesforce by 3.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock worth $181,143,000 after buying an additional 24,332 shares during the last quarter. SFE Investment Counsel raised its stake in Salesforce by 82.7% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after buying an additional 7,871 shares during the last quarter. Fluent Financial LLC purchased a new stake in Salesforce in the second quarter valued at about $2,265,000. Secured Retirement Advisors LLC purchased a new stake in shares of Salesforce during the first quarter worth about $1,004,000. Finally, Janus Henderson Group PLC grew its stake in shares of Salesforce by 2.5% during the first quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after acquiring an additional 3,125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CRM. Truist Financial cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets decreased their price target on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Roth Capital reissued a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Finally, UBS Group upped their target price on Salesforce from $185.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $249.05.
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