Salesforce (NYSE:CRM) Trading 0% Higher – Still a Buy?

Salesforce, Inc. (NYSE:CRM)’s stock price traded up 0% during mid-day trading on Wednesday . The stock traded as high as $281.30 and last traded at $278.80. 946,490 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 6,334,868 shares. The stock had previously closed at $278.73.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CRM shares. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Citigroup reissued a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. Finally, Northland Securities restated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Trading Down 0.2 %

The firm has a market cap of $267.20 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average price of $316.13 and a 200-day moving average price of $309.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,609 shares of company stock valued at $24,920,821 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Several large investors have recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter worth $25,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in 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 last quarter. Finally, Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth $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.