Orion Capital Management LLC bought a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,447 shares of the CRM provider‘s stock, valued at approximately $540,000.
Several other institutional investors have also modified their holdings of CRM. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $25,000. Manning & Napier Advisors LLC bought a new stake in Salesforce during the second quarter worth approximately $26,000. Gilpin Wealth Management LLC acquired a new position in Salesforce in the fourth quarter worth approximately $26,000. Persistent Asset Partners Ltd acquired a new position in Salesforce in the second quarter worth approximately $27,000. Finally, Costello Asset Management INC increased its holdings in shares of Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
CRM has been the subject of a number of recent analyst reports. DA Davidson increased their price target on Salesforce from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $275.00 target price (up from $250.00) on shares of Salesforce in a report on Thursday. Bank of America assumed coverage on shares of Salesforce in a research report on Monday, May 18th. They issued an “underperform” rating and a $160.00 target price on the stock. Finally, HSBC upped their price target on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $261.15.
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