Avestar Capital LLC grew its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 418.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,491 shares of the CRM provider’s stock after acquiring an additional 6,854 shares during the period. Avestar Capital LLC’s holdings in Salesforce were worth $1,949,000 as of its most recent filing with the SEC.
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Other large investors have also recently made changes to their positions in the company. Thor Investment Management Inc. OH ADV increased its holdings in Salesforce by 0.7% in the 3rd quarter. Thor Investment Management Inc. OH ADV now owns 6,422 shares of the CRM provider’s stock valued at $1,474,000 after purchasing an additional 45 shares during the last quarter. Bradley & Co. Private Wealth Management LLC grew its holdings in Salesforce by 9.6% during the 3rd quarter. Bradley & Co. Private Wealth Management LLC now owns 558 shares of the CRM provider’s stock worth $128,000 after acquiring an additional 49 shares in the last quarter. Crumly & Associates Inc. raised its stake in Salesforce by 1.5% in the third quarter. Crumly & Associates Inc. now owns 3,396 shares of the CRM provider’s stock valued at $780,000 after buying an additional 50 shares in the last quarter. Meridian Financial Partners LLC boosted its holdings in Salesforce by 1.1% in the third quarter. Meridian Financial Partners LLC now owns 4,700 shares of the CRM provider’s stock valued at $1,160,000 after purchasing an additional 50 shares in the last quarter. Finally, Peterson Wealth Services grew its position in shares of Salesforce by 3.6% in the 3rd quarter. Peterson Wealth Services now owns 1,549 shares of the CRM provider’s stock valued at $356,000 after buying an additional 54 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CRM. Wells Fargo & Company cut Salesforce from a “buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Citigroup reaffirmed a “market outperform” rating on shares of Salesforce in a research report on Tuesday, October 20th. Oppenheimer reissued an “outperform” rating on shares of Salesforce in a report on Thursday, September 17th. KeyCorp began coverage on shares of Salesforce in a research report on Monday, October 12th. They issued a “sector weight” rating on the stock. Finally, BTIG Research restated a “buy” rating and set a $300.00 price objective on shares of Salesforce in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $278.98.
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