CRM) Director Acquires 428,000 Shares of Stock
Salesforce, Inc. (NYSE:CRM – Get Free Report) Director G Mason Morfit bought 428,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the transaction, the director now owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Salesforce Stock Up 0.7 %
NYSE CRM traded up $1.67 on Wednesday, hitting $236.53. 10,740,144 shares of the stock were exchanged, compared to its average volume of 6,543,985. 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, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market cap of $229.20 billion, a PE ratio of 41.76, a PEG ratio of 2.07 and a beta of 1.25. The company has a 50-day moving average price of $278.99 and a 200-day moving average price of $276.57.
Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.49 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on CRM shares. Sanford C. Bernstein lifted their target price on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Citigroup lowered their price target on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price target on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Stifel Nicolaus lowered their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.
Get Our Latest Report on Salesforce
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of CRM. Soltis Investment Advisors LLC boosted its stake in Salesforce by 8.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 2,621 shares of the CRM provider’s stock worth $531,000 after purchasing an additional 212 shares during the period. Gamco Investors INC. ET AL boosted its stake in Salesforce by 1.9% during the 3rd quarter. Gamco Investors INC. ET AL now owns 6,014 shares of the CRM provider’s stock worth $1,220,000 after purchasing an additional 112 shares during the period. D.A. Davidson & CO. boosted its stake in Salesforce by 8.4% during the 3rd quarter. D.A. Davidson & CO. now owns 54,732 shares of the CRM provider’s stock worth $11,099,000 after purchasing an additional 4,258 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Salesforce by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock worth $1,064,978,000 after purchasing an additional 19,888 shares during the period. Finally, ProVise Management Group LLC boosted its stake in Salesforce by 1.3% during the 3rd quarter. ProVise Management Group LLC now owns 6,199 shares of the CRM provider’s stock worth $1,257,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds 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.
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