Agate Pass Investment Management LLC trimmed its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 61.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,171 shares of the CRM provider’s stock after selling 3,531 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Salesforce were worth $340,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Salesforce by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after purchasing an additional 270,913 shares during the last quarter. State Street Corp raised its holdings in shares of Salesforce by 1.3% during the fourth quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after buying an additional 659,573 shares during the last quarter. J. Stern & Co. LLP raised its holdings in shares of Salesforce by 24,056.7% during 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 buying an additional 47,189,352 shares during the last quarter. Capital International Investors boosted its position in shares of Salesforce by 13.3% during the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after buying an additional 2,669,891 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock worth $5,751,073,000 after buying an additional 791,345 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Roth Capital reaffirmed a “buy” rating and set a $325.00 target price on shares of Salesforce in a research note on Thursday, May 28th. CLSA began coverage on Salesforce in a research note on Monday, July 20th. They issued a “hold” rating and a $165.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and set a $225.00 price target on shares of Salesforce in a report on Tuesday, June 16th. The Goldman Sachs Group assumed coverage on shares of Salesforce in a research note on Thursday, June 18th. They set a “neutral” rating on the stock. Finally, UBS Group reaffirmed an “equal weight” rating on shares of Salesforce in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $249.51.
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