NorthRock Partners LLC Boosts Stake in Salesforce Inc.
NorthRock Partners LLC, an institutional investor, increased its stake in Salesforce Inc. (NYSE:CRM) by 26.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission.
The company owned 17,677 shares of Salesforce's stock after acquiring an additional 3,748 shares during the period, valued at $2,769,000 as of its most recent SEC filing.
NorthRock Partners LLC is not alone in its investment; several other hedge funds and institutional investors have also made changes to their positions in Salesforce. For example, Fred Alger Management LLC lifted its stake in shares of Salesforce by 0.3% during the third quarter, while Synergy Financial Group LTD raised its holdings in shares of Salesforce by 2.4% during the same period.
Analysts have been bullish on Salesforce, with Raymond James Financial reiterating a 'strong-buy' rating and setting a price target of $225.00 per share. However, some analysts are cautioning that the stock may be nearing fully priced, with a valuation ratio of 22.26.