Salesforce (NYSE:CRM) Trading Up 2.1% – What’s Next?

Salesforce, Inc. (NYSE:CRM) was up 2.1% on Friday . The stock traded as high as $276.76 and last traded at $277.42. Approximately 1,274,450 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 7,012,355 shares. The stock had previously closed at $271.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CRM shares. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Bank of America dropped their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Trading Up 3.0 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average of $318.03 and a 200-day moving average of $309.01.

Insider Buying and Selling

In other news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at approximately $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the period. Finally, Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $30,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

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.