Glenview Trust Co bought a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,379 shares of the CRM provider’s stock, valued at approximately $3,506,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC purchased a new stake in Salesforce in the fourth quarter valued at approximately $25,000. Gilpin Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC purchased a new position in Salesforce during the second quarter worth approximately $26,000. Persistent Asset Partners Ltd acquired a new position in shares of Salesforce in the 2nd quarter valued at $27,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of Salesforce during the 3rd quarter valued at $28,000. 80.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CRM. Truist Financial reiterated a “buy” rating and issued a $300.00 target price (up from $280.00) on shares of Salesforce in a report on Thursday. UBS Group upped their price target on Salesforce from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America began coverage on Salesforce in a report on Monday, May 18th. They issued an “underperform” rating and a $160.00 price objective on the stock. HSBC lifted their price objective on Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Jefferies Financial Group increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $261.15.
Ad Stansberry Research
“Picks-and-shovel” stocks that could skyrocket?
Whitney Tilson, former $200 million hedge fund manager, says drilling techniques from the shale boom are now targeting a new powernow it takes 21 days at nearly half the cost. The first commercial-scale power plant could go live as soon as October.
Watch the video now for Tilson’s 3 top energy plays
