Profund Advisors LLC decreased its position in Salesforce Inc. (NYSE:CRM – Free Report) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,509 shares of the CRM provider’s stock after selling 5,721 shares during the quarter. Profund Advisors LLC’s holdings in Salesforce were worth $6,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Salesforce during the second quarter worth about $11,396,844,000. Arrowstreet Capital Limited Partnership increased its position in shares of Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after acquiring an additional 7,160,302 shares during the period. Bank of America Corp DE lifted its stake in Salesforce by 28.0% in the first quarter. Bank of America Corp DE now owns 11,724,790 shares of the CRM provider’s stock worth $2,188,666,000 after acquiring an additional 2,561,923 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Salesforce in the 2nd quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp acquired a new stake in Salesforce during the 2nd quarter worth $844,928,000. 80.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CRM. BTIG Research reaffirmed a “buy” rating and set a $300.00 price objective on shares of Salesforce in a report on Wednesday, September 2nd. Citigroup reissued a “market outperform” rating on shares of Salesforce in a research report on Tuesday, October 20th. Barclays downgraded Salesforce from an “overweight” rating to a “positive” rating in a report on Monday, October 12th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Thursday, September 17th. Finally, Wall Street Zen downgraded Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $278.98.
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