Salesforce (NYSE:CRM) Trading Up 0.2%
Salesforce, Inc. (NYSE:CRM – Get Free Report)’s share price shot up 0.2% during trading on Monday . The company traded as high as $243.49 and last traded at $242.26. 1,501,417 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 6,558,477 shares. The stock had previously closed at $241.85.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Macquarie lowered their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Thursday, May 30th. Mizuho reduced their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Citigroup lowered 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. Finally, Wells Fargo & Company cut their price target on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $292.79.
Check Out Our Latest Analysis on CRM
Salesforce Stock Down 0.5 %
The stock has a market capitalization of $233.08 billion, a P/E ratio of 43.57, a price-to-earnings-growth ratio of 2.12 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. The stock has a fifty day moving average price of $275.34 and a 200 day moving average price of $276.90.
Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. 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 earned $1.15 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts forecast 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 company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total value of $3,535,650.00. Following the transaction, the chief executive officer now owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total value of $3,535,650.00. Following the transaction, the chief executive officer now directly owns 12,362,327 shares in the company, valued at $2,913,924,097.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the sale, the insider now owns 104,904 shares of the company’s stock, valued at $31,429,238.40. The disclosure for this sale can be found here. Insiders have sold 625,870 shares of company stock worth $177,970,848 in the last three months. 3.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in CRM. Objective Capital Management LLC increased its position in shares of Salesforce by 10.7% during the 1st quarter. Objective Capital Management LLC now owns 1,035 shares of the CRM provider’s stock valued at $312,000 after purchasing an additional 100 shares during the last quarter. Maxwell Wealth Strategies Inc. grew its position in Salesforce by 569.1% during the first quarter. Maxwell Wealth Strategies Inc. now owns 9,448 shares of the CRM provider’s stock valued at $2,846,000 after acquiring an additional 8,036 shares during the last quarter. Motiv8 Investments LLC raised its stake in shares of Salesforce by 20.1% during the first quarter. Motiv8 Investments LLC now owns 2,448 shares of the CRM provider’s stock worth $737,000 after acquiring an additional 409 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Salesforce by 7.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 132,020 shares of the CRM provider’s stock worth $39,762,000 after acquiring an additional 8,730 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Salesforce by 27.1% in the 1st quarter. Cetera Advisors LLC now owns 131,076 shares of the CRM provider’s stock valued at $39,477,000 after purchasing an additional 27,976 shares in the last quarter. 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.
See Also
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