Salesforce (NYSE:CRM) Earns Buy Rating from Westpark Capital

Salesforce (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by stock analysts at Westpark Capital in a report released on Wednesday, Marketbeat reports. They presently have a $320.00 target price on the CRM provider’s stock. Westpark Capital’s price target suggests a potential upside of 18.88% from the stock’s current price.

CRM has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Friday, April 25th. Macquarie reissued a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Salesforce Stock Performance

Shares of CRM opened at $269.17 on Wednesday. The firm has a market cap of $258.78 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company’s fifty day moving average is $269.95 and its 200-day moving average is $307.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00.

Insider Buying and Selling at Salesforce

In other news, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Several large investors have recently made changes to their positions in CRM. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Athena Investment Management bought a new position in Salesforce in the 4th quarter worth approximately $236,000. Highland Capital Management LLC acquired a new position in Salesforce during the 4th quarter worth $4,321,000. Nordea Investment Management AB boosted its position in Salesforce by 11.9% in the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock valued at $766,566,000 after buying an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its stake in shares of Salesforce by 14.1% in the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after buying an additional 1,936 shares during the period. Institutional investors own 80.43% of the company’s stock.

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.