Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,405,920 shares of the CRM provider’s stock, valued at approximately $220,251,000. Salesforce makes up approximately 1.8% of Diamond Hill Capital Management LLC Investment Advisor’s investment portfolio, making the stock its 15th biggest position. Diamond Hill Capital Management LLC Investment Advisor owned 0.17% of Salesforce as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the business. J. Stern & Co. LLP raised its position in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after buying an additional 47,189,352 shares during the last quarter. Norges Bank bought a new stake in shares of Salesforce in the fourth quarter worth approximately $3,182,951,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Salesforce by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after acquiring an additional 7,160,302 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Salesforce during the second quarter valued at approximately $844,928,000. Finally, Cardano Risk Management B.V. raised its holdings in shares of Salesforce by 924.7% during the fourth quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock valued at $1,028,807,000 after purchasing an additional 3,504,605 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CRM. Roth Capital restated a “buy” rating and issued a $325.00 target price on shares of Salesforce in a report on Thursday, May 28th. BTIG Research reiterated a “buy” rating and set a $255.00 target price on shares of Salesforce in a research note on Tuesday, May 26th. Citizens Jmp reissued a “market outperform” rating and set a $315.00 price target on shares of Salesforce in a report on Thursday, May 28th. BMO Capital Markets dropped their price target on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group initiated coverage on Salesforce in a report on Thursday, June 18th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.05.
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