Salesforce (NYSE:CRM) Stock Price Down 0%
Salesforce, Inc. (NYSE:CRM – Get Free Report)’s stock price fell 0% during trading on Tuesday . The company traded as low as $230.01 and last traded at $230.41. 1,829,748 shares were traded during trading, a decline of 73% from the average session volume of 6,719,801 shares. The stock had previously closed at $230.48.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CRM. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Citigroup decreased their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Macquarie decreased their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.
Salesforce Stock Performance
The company’s fifty day moving average price is $267.36 and its 200 day moving average price is $277.12. The company has a market cap of $223.28 billion, a PE ratio of 41.44, a P/E/G ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $9.15 billion. During the same quarter last year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the transaction, the chief executive officer now directly owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 2,890 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $893,934.80. Following the completion of the sale, the insider now directly owns 60,416 shares in the company, valued at $18,687,877.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The disclosure for this sale can be found here. Insiders sold 615,470 shares of company stock worth $172,557,838 over the last quarter. 3.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in CRM. Glenview Trust co increased its stake in shares of Salesforce by 14.7% in the third quarter. Glenview Trust co now owns 4,329 shares of the CRM provider’s stock worth $878,000 after buying an additional 555 shares during the period. CenterBook Partners LP boosted its holdings in Salesforce by 54.0% in the third quarter. CenterBook Partners LP now owns 12,027 shares of the CRM provider’s stock valued at $2,439,000 after acquiring an additional 4,215 shares in the last quarter. Interchange Capital Partners LLC boosted its holdings in Salesforce by 22.6% in the third quarter. Interchange Capital Partners LLC now owns 3,138 shares of the CRM provider’s stock valued at $637,000 after acquiring an additional 579 shares in the last quarter. Rathbones Group PLC boosted its holdings in Salesforce by 492.3% in the third quarter. Rathbones Group PLC now owns 6,823 shares of the CRM provider’s stock valued at $1,384,000 after acquiring an additional 5,671 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Salesforce by 20.6% in the third quarter. V Square Quantitative Management LLC now owns 7,573 shares of the CRM provider’s stock valued at $1,536,000 after acquiring an additional 1,295 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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