Plato Investment Management Ltd acquired a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 52,009 shares of the CRM provider’s stock, valued at approximately $8,100,000.
A number of other institutional investors have also recently bought and sold shares of CRM. Commonwealth Retirement Investments LLC bought a new stake in Salesforce in the 4th quarter valued at $25,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter worth about $26,000. Costello Asset Management INC lifted its stake in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 119 shares in the last quarter. Birchwood Financial Partners Inc. bought a new position in shares of Salesforce during the 4th quarter worth approximately $28,000. Finally, Swiss RE Ltd. bought a new stake in shares of Salesforce in the fourth quarter worth $28,000. Institutional investors own 80.43% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently issued reports on CRM shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $185.00 target price (down from $287.00) on shares of Salesforce in a research report on Tuesday, July 21st. Wolfe Research downgraded shares of Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. HC Wainwright cut shares of Salesforce to a “negative” rating in a report on Thursday, June 18th. Bank of America began coverage on shares of Salesforce in a research note on Monday, May 18th. They issued an “underperform” rating and a $160.00 target price for the company. Finally, Wall Street Zen downgraded Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.05.
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