Rockland Trust Co. cut its stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 43.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,600 shares of the CRM provider’s stock after selling 4,268 shares during the period. Rockland Trust Co.’s holdings in Salesforce were worth $877,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Salesforce by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after purchasing an additional 270,913 shares during the last quarter. State Street Corp increased its stake in Salesforce by 1.3% in the 4th 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 last quarter. J. Stern & Co. LLP lifted its position in shares of Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after buying an additional 47,189,352 shares in the last quarter. Capital International Investors lifted its position in shares of Salesforce by 13.3% during the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after buying an additional 2,669,891 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock worth $5,751,073,000 after buying an additional 791,345 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CRM has been the subject of several recent analyst reports. Susquehanna assumed coverage on Salesforce in a report on Wednesday, July 1st. They issued a “neutral” rating for the company. Guggenheim raised Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price objective on the stock in a research report on Wednesday, July 1st. Macquarie Infrastructure cut their price objective on Salesforce from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. Canaccord Genuity Group restated a “buy” rating and issued a $225.00 price objective on shares of Salesforce in a research note on Tuesday, June 16th. Finally, B. Riley Financial lifted their target price on Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.51.
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