Roberts Glore & Co. Inc. IL bought a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,764 shares of the CRM provider’s stock, valued at approximately $746,000.
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A number of other large investors have also recently made changes to their positions in CRM. BlackRock Inc. purchased a new stake in Salesforce during the 2nd quarter worth about $11,396,844,000. State Street Corp increased its position in shares of Salesforce by 1.3% during the fourth quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after buying an additional 659,573 shares during the period. J. Stern & Co. LLP increased its position in shares of Salesforce by 24,056.7% during the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after buying an additional 47,189,352 shares during the period. Capital International Investors boosted its position in shares of Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after acquiring an additional 2,669,891 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Salesforce by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after acquiring an additional 791,345 shares during the period. 80.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on CRM. CLSA started coverage on shares of Salesforce in a report on Monday, July 20th. They set a “hold” rating and a $165.00 target price on the stock. Roth Capital restated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Bank of America began coverage on shares of Salesforce in a report on Monday, May 18th. They issued an “underperform” rating and a $160.00 price target on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Salesforce in a research note on Tuesday, July 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $185.00 target price (down from $287.00) on shares of Salesforce in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.72.
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