Asahi Life Asset Management CO. LTD. bought a new position in Salesforce Inc. (NYSE:CRM – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,546 shares of the CRM provider’s stock, valued at approximately $1,182,000.
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Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Frazier Financial Advisors LLC bought a new position in shares of Salesforce during the second quarter valued at about $62,000. Edmond DE Rothschild Holding S.A. bought a new stake in Salesforce in the 2nd quarter worth about $1,417,000. United Bank bought a new stake in Salesforce in the 2nd quarter worth about $1,766,000. Madison Asset Management LLC purchased a new stake in Salesforce in the 2nd quarter valued at about $11,985,000. Finally, Csenge Advisory Group bought a new position in shares of Salesforce during the 2nd quarter worth approximately $297,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on CRM. Weiss Ratings upgraded Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. started coverage on Salesforce in a research report on Thursday, August 13th. They set an “overweight” rating and a $250.00 price target for the company. KeyCorp lowered Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Barclays raised Salesforce from an “overweight” rating to an “overweight” rating in a research report on Thursday, June 18th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.49.
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