Stoneridge Investment Partners LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,316 shares of the CRM provider’s stock, valued at approximately $1,346,000. Salesforce makes up about 0.9% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 21st biggest position.
Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after buying an additional 205 shares during the last quarter. Bison Wealth LLC lifted its position in shares of Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after buying an additional 184 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Salesforce by 3.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock worth $807,000 after acquiring an additional 106 shares in the last quarter. Finally, United Bank increased its holdings in shares of Salesforce by 5.2% during the 2nd quarter. United Bank now owns 10,198 shares of the CRM provider’s stock valued at $2,781,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CRM shares. Truist Financial lowered Salesforce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Monness Crespi & Hardt increased their price target on Salesforce from $200.00 to $222.00 and gave the company a “buy” rating in a report on Thursday. Sanford C. Bernstein lowered their price target on Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Finally, Bank of America began coverage on shares of Salesforce in a research note on Monday, May 18th. They issued an “underperform” rating and a $160.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.05.
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