HBK Sorce Advisory LLC acquired a new stake in Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,722 shares of the CRM provider’s stock, valued at approximately $1,297,000.
Other large investors have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its holdings in shares of Salesforce by 24,056.7% in the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Norges Bank bought a new position in shares of Salesforce during the fourth quarter worth about $3,182,951,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after buying an additional 7,160,302 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Salesforce in the 2nd quarter valued at approximately $844,928,000. Finally, Cardano Risk Management B.V. raised its position in Salesforce by 924.7% in the 4th quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock valued at $1,028,807,000 after buying an additional 3,504,605 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on CRM. Canaccord Genuity Group restated a “buy” rating and issued a $225.00 target price on shares of Salesforce in a research note on Tuesday, June 16th. Susquehanna began coverage on shares of Salesforce in a research note on Wednesday, July 1st. They set a “neutral” rating for the company. CLSA began coverage on shares of Salesforce in a report on Monday, July 20th. They issued a “hold” rating and a $165.00 price objective on the stock. Weiss Ratings raised shares of Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Finally, Wedbush started coverage on shares of Salesforce in a report on Wednesday, July 1st. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $249.05.
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