Salesforce (NYSE:CRM) Earns Neutral Rating from Macquarie

Macquarie restated their neutral rating on shares of Salesforce (NYSE:CRM) in a report published on Thursday morning,Benzinga reports. The firm currently has a $320.00 target price on the CRM provider’s stock.

A number of other research firms have also weighed in on CRM. UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada upped their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upped their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Down 0.1 %

NYSE CRM opened at $279.07 on Thursday. The company’s 50-day moving average price is $314.23 and its 200-day moving average price is $309.29. 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 stock has a market cap of $268.19 billion, a PE ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC grew its stake in 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 acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.