Montaka Global Pty Ltd lowered its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 42.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 27,174 shares of the CRM provider’s stock after selling 20,041 shares during the period. Salesforce accounts for approximately 2.5% of Montaka Global Pty Ltd’s holdings, making the stock its 13th largest position. Montaka Global Pty Ltd’s holdings in Salesforce were worth $6,238,000 at the end of the most recent quarter.
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A number of other institutional investors have also recently bought and sold shares of the business. Latitude Advisors LLC bought a new stake in Salesforce in the third quarter valued at approximately $25,000. ABS Investment Management LLC bought a new position in shares of Salesforce during the 2nd quarter worth approximately $610,974,000. ABS Direct Equity Fund LLC bought a new position in shares of Salesforce during the 2nd quarter worth approximately $25,000. Manning & Napier Advisors LLC bought a new position in shares of Salesforce during the 2nd quarter worth approximately $26,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on CRM shares. KeyCorp started coverage on Salesforce in a research note on Monday, October 12th. They issued a “sector weight” rating on the stock. BTIG Research reaffirmed a “buy” rating and set a $300.00 price objective on shares of Salesforce in a research report on Wednesday, September 2nd. Evercore reiterated an “outperform” rating on shares of Salesforce in a report on Tuesday, October 20th. Canaccord Genuity Group increased their price objective on shares of Salesforce from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Finally, Stephens restated an “equal weight” rating and set a $289.00 target price on shares of Salesforce in a research note on Friday, September 18th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $278.98.
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