Caisse de depot et placement du Quebec purchased a new position in Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 446,200 shares of the CRM provider’s stock, valued at approximately $69,902,000. Caisse de depot et placement du Quebec owned about 0.05% of Salesforce at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth Retirement Investments LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $26,000. Gilpin Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $26,000. Persistent Asset Partners Ltd bought a new stake in shares of Salesforce in the 2nd quarter worth approximately $27,000. Finally, Costello Asset Management INC lifted its holdings in shares of Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 119 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Evercore restated an “outperform” rating on shares of Salesforce in a research report on Thursday. DA Davidson lifted their price objective on shares of Salesforce from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. BTIG Research reissued a “buy” rating and set a $255.00 target price on shares of Salesforce in a research note on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Salesforce in a research report on Thursday. Finally, Monness Crespi & Hardt raised their price target on shares of Salesforce from $222.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $261.15.
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