Commonwealth Equity Services LLC decreased its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,029 shares of the CRM provider’s stock after selling 10,786 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Salesforce were worth $44,084,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Collaborative Fund Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $614,000. Smallwood Wealth Investment Management LLC grew its stake in shares of Salesforce by 19.1% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 392 shares of the CRM provider’s stock valued at $90,000 after buying an additional 63 shares during the period. Richardson Financial Services Inc. grew its stake in shares of Salesforce by 43.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 915 shares of the CRM provider’s stock valued at $210,000 after buying an additional 278 shares during the period. Ascent Group LLC increased its holdings in shares of Salesforce by 8.4% during the 3rd quarter. Ascent Group LLC now owns 19,601 shares of the CRM provider’s stock worth $4,500,000 after buying an additional 1,524 shares during the last quarter. Finally, 3Chopt Investment Partners LLC increased its holdings in shares of Salesforce by 23.6% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 4,027 shares of the CRM provider’s stock worth $926,000 after buying an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on CRM. Zacks Research upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Oppenheimer restated an “outperform” rating on shares of Salesforce in a research note on Thursday, September 17th. Needham & Company LLC restated a “buy” rating on shares of Salesforce in a report on Thursday, September 17th. Stephens reaffirmed an “equal weight” rating and issued a $289.00 price objective on shares of Salesforce in a research note on Friday, September 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Salesforce in a report on Thursday, August 27th. Four 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $278.98.
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