Central Bank & Trust Co. increased its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 67.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,787 shares of the CRM provider’s stock after purchasing an additional 2,745 shares during the period. Central Bank & Trust Co.’s holdings in Salesforce were worth $1,558,000 at the end of the most recent quarter.
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A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in Salesforce by 1.3% during 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 acquiring an additional 659,573 shares in the last quarter. BlackRock Inc. acquired a new position in Salesforce in the second quarter worth about $11,396,844,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Salesforce by 130.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after buying an additional 7,160,302 shares during the period. Bank of America Corp DE boosted its stake in shares of Salesforce by 28.0% in the 1st quarter. Bank of America Corp DE now owns 11,724,790 shares of the CRM provider’s stock valued at $2,188,666,000 after purchasing an additional 2,561,923 shares in the last quarter. Finally, Cardano Risk Management B.V. increased its position in shares of Salesforce by 924.7% during the 4th quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock worth $1,028,807,000 after purchasing an additional 3,504,605 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently commented on CRM shares. Wells Fargo & Company increased their price target on shares of Salesforce from $230.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, September 18th. Argus raised their target price on Salesforce from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Wall Street Zen cut Salesforce from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. BMO Capital Markets boosted their target price on Salesforce from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, September 17th. Finally, Susquehanna initiated coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.14.
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