Panoramic Capital LLC purchased a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the CRM provider’s stock, valued at approximately $3,916,000. Salesforce makes up about 1.7% of Panoramic Capital LLC’s portfolio, making the stock its 18th biggest position.
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A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd boosted its stake in Salesforce by 3.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock valued at $181,143,000 after acquiring an additional 24,332 shares during the last quarter. SFE Investment Counsel raised its position in shares of Salesforce by 82.7% during the 4th quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after acquiring an additional 7,871 shares during the last quarter. Fluent Financial LLC acquired a new position in shares of Salesforce in the 2nd quarter valued at $2,265,000. Secured Retirement Advisors LLC acquired a new position in shares of Salesforce in the 1st quarter valued at $1,004,000. Finally, Janus Henderson Group PLC boosted its position in shares of Salesforce by 2.5% in the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after purchasing an additional 3,125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on CRM. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Salesforce in a report on Tuesday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Salesforce in a research note on Tuesday, July 21st. HSBC lifted their price target on shares of Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Evercore reissued an “outperform” rating on shares of Salesforce in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.72.
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