CTC Alternative Strategies Ltd. bought a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,500 shares of the CRM provider’s stock, valued at approximately $705,000. Salesforce makes up 1.0% of CTC Alternative Strategies Ltd.’s holdings, making the stock its 22nd largest position.
A number of other large investors have also added to or reduced their stakes in CRM. Fred Alger Management LLC grew its holdings in shares of Salesforce by 0.3% in the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock valued at $3,548,000 after purchasing an additional 45 shares in the last quarter. Synergy Financial Group LTD lifted its position in Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock valued at $482,000 after purchasing an additional 48 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Salesforce by 35.4% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider’s stock worth $53,000 after buying an additional 52 shares during the last quarter. Krane Funds Advisors LLC raised its position in shares of Salesforce by 0.7% during the 4th quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider’s stock valued at $2,187,000 after buying an additional 57 shares in the last quarter. Finally, HBW Advisory Services LLC lifted its holdings in shares of Salesforce by 0.4% in the 1st quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider’s stock valued at $2,445,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CRM. Monness Crespi & Hardt upped their price objective on Salesforce from $222.00 to $266.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen downgraded Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. BMO Capital Markets lifted their price objective on shares of Salesforce from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday. Guggenheim reiterated a “buy” rating and set a $228.00 price objective on shares of Salesforce in a research report on Thursday. Finally, KeyCorp lowered shares of Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $261.15.
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