QRG Capital Management Inc. lessened its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,194 shares of the CRM provider’s stock after selling 13,152 shares during the period. QRG Capital Management Inc.’s holdings in Salesforce were worth $20,396,000 at the end of the most recent reporting period.
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Several other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. boosted its stake in Salesforce by 11.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 43,398 shares of the CRM provider’s stock worth $6,790,000 after purchasing an additional 4,618 shares during the period. Andra AP fonden increased its holdings in Salesforce by 4,855.1% during the 2nd quarter. Andra AP fonden now owns 168,472 shares of the CRM provider’s stock worth $26,393,000 after acquiring an additional 165,072 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new stake in Salesforce in the 2nd quarter worth approximately $52,000. Wellington Altus USA Inc. boosted its holdings in Salesforce by 117.2% in the 2nd quarter. Wellington Altus USA Inc. now owns 315 shares of the CRM provider’s stock valued at $49,000 after purchasing an additional 170 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in Salesforce by 184.5% in the 2nd quarter. Anchor Investment Management LLC now owns 17,983 shares of the CRM provider’s stock valued at $2,817,000 after purchasing an additional 11,663 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CRM. Wells Fargo & Company upped their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock an “equal weight” rating in a report on Friday, September 18th. Wedbush initiated coverage on Salesforce in a research note on Wednesday, July 1st. They issued an “outperform” rating on the stock. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a report on Thursday, August 27th. BTIG Research reissued a “buy” rating and set a $300.00 price objective on shares of Salesforce in a report on Wednesday, September 2nd. Finally, Wolfe Research upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $275.14.
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