Coastal Bridge Advisors LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,476 shares of the CRM provider’s stock, valued at approximately $2,111,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after purchasing an additional 184 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Salesforce by 3.7% during the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock worth $807,000 after buying an additional 106 shares during the period. Finally, United Bank grew its holdings in shares of Salesforce by 5.2% during the second quarter. United Bank now owns 10,198 shares of the CRM provider’s stock worth $2,781,000 after buying an additional 500 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CRM. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salesforce in a research report on Thursday. Susquehanna initiated coverage on Salesforce in a research report on Wednesday, July 1st. They set a “neutral” rating for the company. HSBC raised their price target on shares of Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Roth Capital reiterated a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.15.
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