Salesforce (NYSE:CRM) Now Covered by Stephens

Stephens started coverage on shares of Salesforce (NYSE:CRM) in a research note published on Wednesday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $311.00 price target on the CRM provider’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. UBS Group upped their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.3 %

Shares of NYSE CRM opened at $279.44 on Wednesday. The firm’s 50 day moving average price is $315.19 and its 200-day moving average price is $309.50. Salesforce has a 52-week low of $212.00 and a 52-week high of $369.00. 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 company has a market cap of $268.54 billion, a PE ratio of 45.96, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares in the company, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Salesforce

Several large investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth about $25,000. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth about $27,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the fourth quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $30,000. 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.