Janney Montgomery Scott LLC trimmed its holdings in Salesforce Inc. (NYSE:CRM – Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 251,970 shares of the CRM provider’s stock after selling 10,825 shares during the period. Janney Montgomery Scott LLC’s holdings in Salesforce were worth $47,035,000 at the end of the most recent reporting period.
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Several other hedge funds have also made changes to their positions in the business. Horizon Bancorp Inc. IN grew its holdings in shares of Salesforce by 39.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,681 shares of the CRM provider’s stock worth $314,000 after buying an additional 472 shares during the last quarter. Louisbourg Investments Inc. raised its stake in Salesforce by 38.1% during the 1st quarter. Louisbourg Investments Inc. now owns 54,137 shares of the CRM provider’s stock valued at $10,106,000 after acquiring an additional 14,939 shares during the last quarter. Boomfish Wealth Group LLC raised its stake in Salesforce by 2.1% during the 1st quarter. Boomfish Wealth Group LLC now owns 11,329 shares of the CRM provider’s stock valued at $2,115,000 after acquiring an additional 230 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Salesforce by 15.3% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,749 shares of the CRM provider’s stock worth $701,000 after acquiring an additional 498 shares during the period. Finally, Nicholas Wealth LLC. lifted its position in Salesforce by 15.1% during the 1st quarter. Nicholas Wealth LLC. now owns 5,415 shares of the CRM provider’s stock worth $1,011,000 after acquiring an additional 709 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.
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Analysts Set New Price Targets
CRM has been the topic of a number of recent research reports. B. Riley Financial boosted their target price on Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Wolfe Research reaffirmed an “outperform” rating on shares of Salesforce in a report on Monday, June 15th. HSBC raised their target price on shares of Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. DA Davidson lowered their target price on shares of Salesforce from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Salesforce in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $257.61.
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