Salesforce (NYSE:CRM) Trading Up 1.5%

Shares of Salesforce, Inc. (NYSE:CRMGet Free Report) rose 1.5% during trading on Friday . The company traded as high as $235.25 and last traded at $232.54. Approximately 2,433,456 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 6,675,427 shares. The stock had previously closed at $229.03.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Evercore ISI reduced their target price on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a report on Friday, May 24th. Wedbush decreased their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Finally, Canaccord Genuity Group decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Read Our Latest Analysis on CRM

Salesforce Stock Up 1.4 %

The company has a market capitalization of $225.07 billion, a P/E ratio of 41.82, a PEG ratio of 2.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average of $270.19 and a 200-day moving average of $276.53.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the sale, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 634,670 shares of company stock worth $178,310,008. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRM. Graypoint LLC raised its position in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its position in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its position in Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

About Salesforce

(Get Free Report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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