Invst LLC bought a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,287 shares of the CRM provider’s stock, valued at approximately $828,000.
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Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Salesforce during the 2nd quarter valued at approximately $11,396,844,000. J. Stern & Co. LLP raised its position in shares of 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 valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $3,182,951,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Salesforce by 130.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after buying an additional 7,160,302 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Salesforce during the 2nd quarter valued at approximately $927,332,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on CRM shares. Susquehanna initiated coverage on shares of Salesforce in a report on Wednesday, July 1st. They issued a “neutral” rating on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $225.00 target price on shares of Salesforce in a research note on Tuesday. Piper Sandler cut shares of Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. Wolfe Research lowered Salesforce from an “outperform” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Bank of America began coverage on Salesforce in a research note on Monday, May 18th. They set an “underperform” rating and a $160.00 price objective on the stock. 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.72.
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