Vulcan Value Partners LLC reduced its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,013 shares of the CRM provider’s stock after selling 32,790 shares during the quarter. Salesforce comprises approximately 0.8% of Vulcan Value Partners LLC’s holdings, making the stock its 22nd largest position. Vulcan Value Partners LLC’s holdings in Salesforce were worth $25,694,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. California State Teachers Retirement System raised its position in shares of Salesforce by 13,260.5% in the 2nd quarter. California State Teachers Retirement System now owns 188,085,056 shares of the CRM provider’s stock worth $29,465,405,000 after purchasing an additional 186,677,290 shares during the last quarter. BlackRock Inc. purchased a new stake in Salesforce during the 2nd quarter valued at about $11,396,844,000. State Street Corp grew its position in Salesforce by 1.3% during the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after purchasing an additional 659,573 shares during the last quarter. J. Stern & Co. LLP increased its stake in Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Finally, Capital International Investors raised its holdings in Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after buying an additional 2,669,891 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Salesforce from $205.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Citigroup lifted their target price on Salesforce from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Morgan Stanley set a $315.00 price target on Salesforce in a research note on Wednesday, September 2nd. Piper Sandler cut Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. Finally, Royal Bank Of Canada lifted their price objective on Salesforce from $210.00 to $250.00 and gave the stock a “sector perform” rating in a report on Thursday, August 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.50.
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