Heritage Investors Management Corp lowered its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,534 shares of the CRM provider’s stock after selling 6,019 shares during the quarter. Salesforce makes up 1.3% of Heritage Investors Management Corp’s investment portfolio, making the stock its 17th largest position. Heritage Investors Management Corp’s holdings in Salesforce were worth $44,659,000 as of its most recent filing with the Securities & Exchange Commission.
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A number of other hedge funds have also added to or reduced their stakes in the stock. Columbia Bank boosted its holdings in Salesforce by 10.2% in the 3rd quarter. Columbia Bank now owns 10,120 shares of the CRM provider’s stock valued at $2,323,000 after purchasing an additional 938 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Salesforce by 2.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,054,002 shares of the CRM provider’s stock valued at $471,537,000 after purchasing an additional 48,551 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Salesforce during the 3rd quarter valued at $74,942,000. Northern Financial Advisors Inc bought a new position in shares of Salesforce in the third quarter worth $716,000. Finally, Vise Technologies Inc. increased its holdings in shares of Salesforce by 39.1% in the third quarter. Vise Technologies Inc. now owns 45,628 shares of the CRM provider’s stock worth $10,475,000 after purchasing an additional 12,828 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on CRM shares. Wolfe Research upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 27th. The Goldman Sachs Group reissued a “buy” rating on shares of Salesforce in a research note on Thursday, August 27th. Evercore restated an “outperform” rating on shares of Salesforce in a research report on Tuesday, October 20th. KeyCorp began coverage on Salesforce in a research note on Monday, October 12th. They issued a “sector weight” rating on the stock. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Salesforce in a report on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $278.98.
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