AAFMAA Wealth Management & Trust LLC lowered its stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 71.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,497 shares of the CRM provider’s stock after selling 3,700 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Salesforce were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its holdings in Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after acquiring an additional 47,189,352 shares in the last quarter. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at about $3,182,951,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after purchasing an additional 7,160,302 shares in the last quarter. Cardano Risk Management B.V. lifted its position in shares of Salesforce by 924.7% during the fourth quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock worth $1,028,807,000 after purchasing an additional 3,504,605 shares during the last quarter. Finally, Capital International Investors grew its stake in Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after purchasing an additional 2,669,891 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently weighed in on CRM shares. KeyCorp lowered Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. B. Riley Financial lifted their target price on Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Canaccord Genuity Group reiterated a “buy” rating and issued a $225.00 price target on shares of Salesforce in a report on Tuesday, June 16th. DA Davidson reduced their price objective on Salesforce from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. Finally, Wolfe Research lowered shares of Salesforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $249.51.
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