AFT Forsyth & Company Inc. acquired a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,274 shares of the CRM provider’s stock, valued at approximately $1,453,000. Salesforce accounts for about 0.7% of AFT Forsyth & Company Inc.’s portfolio, making the stock its 27th largest holding.
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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC bought a new stake in Salesforce during the fourth quarter valued at about $25,000. Manning & Napier Advisors LLC bought a new position in shares of Salesforce during the second quarter worth $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at about $26,000. Persistent Asset Partners Ltd purchased a new position in Salesforce during the 2nd quarter valued at approximately $27,000. Finally, Costello Asset Management INC grew its holdings in shares of Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on CRM shares. The Goldman Sachs Group started coverage on shares of Salesforce in a research report on Thursday, June 18th. They set a “neutral” rating on the stock. Jefferies Financial Group upgraded Salesforce from a “buy” rating to a “buy” rating in a report on Wednesday, July 1st. Wedbush initiated coverage on shares of Salesforce in a report on Wednesday, July 1st. They issued an “outperform” rating on the stock. TD Cowen reaffirmed a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. Finally, Macquarie Infrastructure decreased their price objective on shares of Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.87.
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