Letko Brosseau & Associates Inc. lifted its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 564,855 shares of the CRM provider’s stock after acquiring an additional 60,045 shares during the period. Salesforce accounts for approximately 1.7% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 21st biggest position. Letko Brosseau & Associates Inc. owned approximately 0.07% of Salesforce worth $129,674,000 at the end of the most recent reporting period.
- 5 Stocks to Buy in November: Bargains Worth Giving Thanks For
Several other institutional investors and hedge funds have also made changes to their positions in CRM. BlackRock Inc. bought a new stake in Salesforce during the second quarter worth approximately $11,396,844,000. Arrowstreet Capital Limited Partnership lifted its position in Salesforce by 130.2% in 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 purchasing an additional 7,160,302 shares during the period. Bank of America Corp DE acquired a new stake in Salesforce in the second quarter worth approximately $1,914,086,000. Legal & General Group Plc acquired a new stake in Salesforce in the second quarter worth approximately $927,332,000. Finally, Bank of New York Mellon Corp bought a new position in Salesforce during the 2nd quarter valued at $844,928,000. 80.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CRM. Wall Street Zen cut Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Argus upped their price objective on Salesforce from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, August 31st. Guggenheim upped their price objective on Salesforce from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, September 17th. Canaccord Genuity Group raised their target price on Salesforce from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $278.98.
Ad Digest Publishing
Uranium Mine Flood That Sparked a 2006 Price Surge Returns
In 2006, a flooded mine at Cigar Lake sent uranium prices from the $50 range to $136 in eight months.nnThis past May, flooding cut the supply route into the largest uranium complex on the planet, and in July Cigar Lake went down a second time.nnGerardo Del Real calls this the Third Convergence Event and has backed three small companies positioned in front of it.
See the three companies positioned for uranium’s next supply shock
