Butensky & Cohen <a href="https://bitcomme.com/nvidias-show-of-financial-force-soothes-jittery-credit-markets/” title=”Nvidia’s Show of Financial Force Soothes Jittery Credit Markets”>Financial Security Inc. purchased a new stake in Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,776 shares of the CRM provider’s stock, valued at approximately $2,941,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $25,000. Key Capital Management INC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Costello Asset Management INC lifted its holdings in 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 buying an additional 119 shares during the period. Finally, Birchwood Financial Partners Inc. bought a new position in Salesforce in the fourth quarter valued at approximately $28,000. 80.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on CRM. Royal Bank Of Canada lowered shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a report on Wednesday, July 1st. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler cut Salesforce from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 28th. CLSA assumed coverage on Salesforce in a report on Monday, July 20th. They issued a “hold” rating and a $165.00 price objective for the company. Finally, Daiwa Securities Group cut their target price on Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.51.
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