Corient Private Wealth LP purchased a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,108,019 shares of the CRM provider’s stock, valued at approximately $49,051,000. Corient Private Wealth LP owned about 0.14% of Salesforce at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. purchased a new stake in Salesforce during the second quarter valued at about $11,730,000. Panoramic Capital LLC bought a new stake in Salesforce in the 2nd quarter worth approximately $3,916,000. Perennial Investment Advisors LLC purchased a new stake in Salesforce in the second quarter worth approximately $1,206,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Salesforce in the 2nd quarter valued at $653,000. Finally, Bank of America Corp DE bought a new position in shares of Salesforce during the second quarter valued at about $1,914,086,000. 80.43% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CRM. Susquehanna initiated coverage on shares of Salesforce in a report on Wednesday, July 1st. They issued a “neutral” rating on the stock. Citigroup increased their target price on shares of Salesforce from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Thursday. Wolfe Research cut Salesforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, July 1st. Bank of America started coverage on Salesforce in a report on Monday, May 18th. They set an “underperform” rating and a $160.00 price target on the stock. Finally, Roth Capital reaffirmed a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Two investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.15.
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