Perennial Investment Advisors LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,702 shares of the CRM provider’s stock, valued at approximately $1,206,000.
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Several other institutional investors have also added to or reduced their stakes in CRM. Fred Alger Management LLC raised its stake in Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after purchasing an additional 45 shares in the last quarter. Synergy Financial Group LTD grew its holdings in shares of Salesforce by 2.4% during the 3rd quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock worth $482,000 after purchasing an additional 48 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Salesforce by 35.4% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 52 shares during the period. Krane Funds Advisors LLC raised its position in shares of Salesforce by 0.7% in the 4th quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider’s stock valued at $2,187,000 after buying an additional 57 shares in the last quarter. Finally, HBW Advisory Services LLC boosted its position in shares of Salesforce by 0.4% during the 1st quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider’s stock worth $2,445,000 after acquiring an additional 57 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CRM shares. B. Riley Financial increased their price target on Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wedbush started coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued an “outperform” rating for the company. HSBC upped their price objective on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. CLSA started coverage on Salesforce in a research note on Monday, July 20th. They issued a “hold” rating and a $165.00 price objective for the company. Finally, Evercore restated an “outperform” rating on shares of Salesforce in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.72.
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