Wedmont Private Capital cut its position in Salesforce Inc. (NYSE:CRM – Free Report) by 30.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,110 shares of the CRM provider’s stock after selling 5,292 shares during the quarter. Wedmont Private Capital’s holdings in Salesforce were worth $1,978,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kintra Wealth LLC raised its holdings in Salesforce by 117.0% in the 2nd quarter. Kintra Wealth LLC now owns 3,896 shares of the CRM provider’s stock valued at $610,000 after acquiring an additional 2,101 shares in the last quarter. Yarger Wealth Strategies LLC lifted its position in shares of Salesforce by 25.1% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 1,366 shares of the CRM provider’s stock worth $223,000 after buying an additional 274 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Salesforce by 38.3% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 592 shares of the CRM provider’s stock valued at $93,000 after buying an additional 164 shares in the last quarter. Saudi Central Bank boosted its stake in shares of Salesforce by 61.4% in the 2nd quarter. Saudi Central Bank now owns 55,832 shares of the CRM provider’s stock valued at $8,747,000 after purchasing an additional 21,246 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its position in Salesforce by 40.9% in the second quarter. Angeles Wealth Management LLC now owns 7,510 shares of the CRM provider’s stock valued at $1,179,000 after buying an additional 2,180 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CRM. Daiwa Securities Group reduced their price objective on Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Monness Crespi & Hardt lifted their target price on shares of Salesforce from $222.00 to $266.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Salesforce in a research note on Tuesday, August 25th. Mizuho upped their price objective on shares of Salesforce from $250.00 to $265.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, HSBC lifted their price objective on Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $266.50.
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