Salesforce (NYSE:CRM) Trading Up 0.7%

Salesforce, Inc. (NYSE:CRMGet Free Report)’s stock price was up 0.7% on Friday . The company traded as high as $244.75 and last traded at $243.52. Approximately 3,895,487 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 6,810,612 shares. The stock had previously closed at $241.80.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRM shares. Raymond James restated a “strong-buy” rating and issued a $325.00 target price (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. DA Davidson decreased their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Barclays decreased their price target on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Oppenheimer decreased their price target on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

View Our Latest Research Report on Salesforce

Salesforce Stock Performance

The stock has a 50-day moving average of $263.45 and a 200-day moving average of $276.36. The firm has a market cap of $236.54 billion, a price-to-earnings ratio of 43.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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

Insiders Place Their Bets

In other Salesforce news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the transaction, the director now owns 6,855 shares of the company’s stock, valued at approximately $1,642,732.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the transaction, the director now owns 6,855 shares of the company’s stock, valued at approximately $1,642,732.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Insiders have sold 575,989 shares of company stock valued at $160,340,775 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marks Group Wealth Management Inc boosted its stake in shares of Salesforce by 0.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares during the period. Spartan Planning & Wealth Management boosted its stake in shares of Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after acquiring an additional 625 shares during the period. Roman Butler Fullerton & Co. boosted its stake in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares during the period. Parnassus Investments LLC boosted its stake in Salesforce by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares during the period. Finally, TD Asset Management Inc boosted its stake in Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares during the period. 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.

Read More

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.