RB Capital Management LLC purchased a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,939 shares of the CRM provider’s stock, valued at approximately $1,714,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC raised its holdings in shares of 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 buying an additional 45 shares in the last quarter. Synergy Financial Group LTD grew its holdings in shares of Salesforce by 2.4% during the third 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 during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of 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 last quarter. Krane Funds Advisors LLC increased its stake in shares of Salesforce by 0.7% in the fourth 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 raised its holdings in shares of Salesforce by 0.4% in the first quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider’s stock valued at $2,445,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on CRM. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Salesforce in a research note on Thursday. Citigroup increased their price objective on Salesforce from $204.00 to $233.00 and gave the company a “neutral” rating in a research report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $225.00 price target on shares of Salesforce in a research note on Tuesday. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Finally, Bank of America started coverage on Salesforce in a report on Monday, May 18th. They set an “underperform” rating and a $160.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $261.15.
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