Salesforce (NYSE:CRM) Earns Neutral Rating from Macquarie

Salesforce (NYSE:CRM)‘s stock had its “neutral” rating reissued by stock analysts at Macquarie in a report issued on Thursday,Benzinga reports. They presently have a $320.00 price objective on the CRM provider’s stock. Macquarie’s price objective suggests a potential upside of 13.65% from the stock’s current price.

A number of other research firms also recently issued reports on CRM. Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research note on Wednesday. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens initiated coverage on shares of Salesforce in a research note on Wednesday. They issued an “equal weight” rating and a $311.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Price Performance

NYSE CRM opened at $281.56 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50 day moving average price is $313.51 and its 200-day moving average price is $309.49. Salesforce has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market cap of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 60,256 shares of company stock valued at $19,692,357 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Foundations Investment Advisors LLC boosted its holdings in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Salesforce in the 3rd quarter valued at about $1,215,000. Athena Investment Management acquired a new position in Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC acquired a new position in Salesforce in the 4th quarter valued at about $4,321,000. Finally, Geode Capital Management LLC boosted its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Company Profile

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.