Flputnam Takes New Position in Salesforce Stock as Analysts Predict Growth

Flputnam Investment Management Co., a prominent institutional investor, has taken a new position in Salesforce Inc. (NYSE:CRM) shares during the second quarter. According to its latest disclosure with the Securities & Exchange Commission, Flputnam purchased approximately $5.67 million worth of CRM stock.

In addition to Flputnam's investment, other institutional investors and hedge funds have also modified their holdings in Salesforce. Fred Alger Management LLC increased its stake by 0.3% during the third quarter, while Richards Merrill & Peterson Inc. boosted its position by 1.1% in the fourth quarter.

Meanwhile, some analysts are optimistic about Salesforce's prospects. JPMorgan Chase & Co. resumed coverage with an Overweight rating and a $250 price target, citing potential acceleration in the company's core business during the second half of the year. Monness Crespi & Hardt also raised its price target to $222 from $200 and maintained a Buy rating.