Teamwork Financial Advisors LLC cut its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 91.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097 shares of the CRM provider’s stock after selling 11,815 shares during the period. Teamwork Financial Advisors LLC’s holdings in Salesforce were worth $252,000 at the end of the most recent quarter.
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Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Salesforce during the 2nd quarter worth about $11,396,844,000. Arrowstreet Capital Limited Partnership raised its position in shares of Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after buying an additional 7,160,302 shares in the last quarter. Bank of America Corp DE bought a new stake in Salesforce during the second quarter worth $1,914,086,000. Legal & General Group Plc acquired a new stake in Salesforce in the second quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $844,928,000. Institutional investors own 80.43% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CRM. Citigroup restated a “market outperform” rating on shares of Salesforce in a research report on Friday, September 18th. Guggenheim lifted their target price on Salesforce from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Oppenheimer reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday, September 17th. Canaccord Genuity Group increased their price objective on shares of Salesforce from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Finally, Barclays lowered Salesforce from an “overweight” rating to a “positive” rating in a research note on Monday, October 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $278.40.
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