Concurrent Investment Advisors LLC raised its position in Salesforce Inc. (NYSE:CRM – Free Report) by 118.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,754 shares of the CRM provider’s stock after buying an additional 79,437 shares during the period. Concurrent Investment Advisors LLC’s holdings in Salesforce were worth $22,990,000 at the end of the most recent quarter.
- Salesforce Looks Overbought, But the Rally May Be Far From Over
A number of other large investors have also modified their holdings of CRM. Prosperitas Financial LLC boosted its position in Salesforce by 4.7% during the second quarter. Prosperitas Financial LLC now owns 3,044 shares of the CRM provider’s stock worth $477,000 after purchasing an additional 137 shares in the last quarter. NEOS Investment Management LLC grew its holdings in Salesforce by 12.1% in the second quarter. NEOS Investment Management LLC now owns 153,886 shares of the CRM provider’s stock valued at $24,108,000 after purchasing an additional 16,660 shares during the period. iSAM Funds UK Ltd increased its position in shares of Salesforce by 236.8% in the second quarter. iSAM Funds UK Ltd now owns 4,900 shares of the CRM provider’s stock valued at $768,000 after buying an additional 3,445 shares in the last quarter. Safeguard Investment Advisory Group LLC raised its stake in shares of Salesforce by 15.8% during the 2nd quarter. Safeguard Investment Advisory Group LLC now owns 1,681 shares of the CRM provider’s stock worth $263,000 after buying an additional 229 shares during the period. Finally, Nykredit A S acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $52,087,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on CRM shares. Monness Crespi & Hardt increased their target price on Salesforce from $222.00 to $266.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. HSBC boosted their price target on shares of Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Daiwa Securities Group decreased their price objective on shares of Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Guggenheim reiterated a “buy” rating and issued a $228.00 target price on shares of Salesforce in a research report on Thursday, August 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $266.50.
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