4,363 Shares in Salesforce Inc. $CRM Purchased by BIP Wealth LLC

BIP Wealth LLC bought a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,363 shares of the CRM provider’s stock, valued at approximately $684,000.

Several other large investors have also recently bought and sold shares of the stock. Fred Alger Management LLC increased its stake in shares of Salesforce by 0.3% during the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock valued at $3,548,000 after acquiring an additional 45 shares during the period. Richards Merrill & Peterson Inc. boosted its stake in Salesforce by 1.1% during the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock valued at $1,123,000 after purchasing an additional 46 shares in the last quarter. Wright Investors Service Inc. increased its position in shares of Salesforce by 0.8% during the 4th quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider’s stock valued at $1,639,000 after purchasing an additional 47 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Salesforce by 6.9% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider’s stock worth $197,000 after buying an additional 48 shares in the last quarter. Finally, Synergy Financial Group LTD lifted its holdings in shares of Salesforce by 2.4% in the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock valued at $482,000 after buying an additional 48 shares during the period.

Institutional investors and hedge funds own 80.43% of the company’s stock.

Several research firms have recently weighed in on CRM. Barclays upgraded shares of Salesforce from an “overweight” rating to an “overweight” rating in a research report on Thursday, June 18th. The Goldman Sachs Group initiated coverage on shares of Salesforce in a research note on Thursday, June 18th. They set a “neutral” rating for the company. KeyCorp cut shares of Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Wolfe Research lowered shares of Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, HC Wainwright cut Salesforce to a “negative” rating in a report on Thursday, June 18th.

Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $249.05.

JPMorgan resumed coverage with an Overweight rating and a $250 price target, citing potential acceleration in Salesforce’s core business during the second half of the year. The target implies more than 24% upside from recent levels. JPMorgan bullish Salesforce coverage

Monness Crespi & Hardt raised its Salesforce price target to $222 from $200 and maintained a Buy rating. UBS and Wells Fargo also reportedly forecast strong appreciation, reinforcing improving sell-side sentiment. Monness Crespi Salesforce price target